How is the annual management charge (AMC) calculated?

The calculation is:

  • the value of your fund
  • multiplied by annual management charge of 0.5% (0.005)
  • then divided by the (number of days in the year – 365)


So each day our fund managers (State Street Global Advisors/HSBC Global Asset Management) take 0.00137% of the value of assets as a charge. This is taken into account when calculating the daily unit price.

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