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RHB Investment Management Sdn Bhd (174588X)
Resource
Center -
Fees, Charges & Expenses
| Fees and Expenses of the Fund |
There
are annual operating expenses involved in running a Fund, including
but not limited to those stated herein below, and such expenses
are paid out of the Fund's assets:-
| (a) |
Annual Management Fee; |
| (b) |
Annual
Trustee Fee; |
(c) |
Trustee
expenses (e.g. foreign custodian services incurred); |
(d) |
Commissions/fees
paid to brokers in effecting dealings in the investments of
the Fund; |
(e) |
Tax and
other duties charged on the Fund by the government and other
authorities; |
(f) |
Fees and
other expenses properly incurred by the auditors appointed for
the Fund; |
(g) |
Fees for
valuation of any investment of the Fund by independent valuers
for the benefit of the Fund; |
(h) |
Costs incurred
for the modification of the Deed other than those for the benefit
of the Management
Company; |
(i) |
Costs incurred
for any meeting of the Unit Holders other than those convened
by, or for the benefit of the Management Company; and |
(j) |
Administrative
charges like printing of annual reports, distribution cheques
and postage. |
Expenses
associated with the management and administration of the Fund, such
as general overheads and costs for services expected to be provided
by the Management Company, will not be charged to the Fund.
Computation
of Annual Management Fee and Annual Trustee Fee
The following is an illustration on the daily computation of management
fee and trustee fee carried out as at 30 June 2008:-
| RHB Asian Total Return Fund |
|
| Total
NAV(before deducting management fee and trustee fee) |
RM |
| Management
fee accrued for 30 June 2008
(1.25%/365 days x RM102,120,000) |
3,497.26 |
Trustee Fee accrued for 30 June 2008
(0.08%/365 days x RM102,120,000) |
223.82
|
Computation
of Management Expense Ratio
The
MER of a fund is calculated by dividing the total amount of fund's
operating expenses with its average fund size in NAV terms. The
MER represents a comparative indicator of the expenses borne by
one fund relative to other similar funds.
For
example, the total expenses incurred by a fund for a financial year
was RM1.30 million and its average fund size was RM80 million. The
MER of the fund is then calculated as follows:-
| MER |
=
|
Total
expenses incurred by the fund |
x |
100 |
| |
|
Average
fund size |
|
|
| |
= |
RM1.30
million
|
x |
100 |
| |
|
RM80.00
million |
|
|
| |
=
|
1.63% |
|
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Switching
of Units
Investors
may exercise the switching transactions on any Business Day by completing
and sending a Switching Form as prescribed by the Manager to the
head office or any regional offices of the Manager.
Below
are 2 illustrations of an investor switching:-
| (i) |
From RHB Islamic Growth Fund to RHB Mudharabah Fund (or any
other equity and balanced funds) |
To
determine the Total Value of RHB Islamic Growth Fund
to be switched |
| Present
holding of units (A) |
10,000
units |
| Present
Repurchase Price per unit (B) |
RM0.5279 |
| Total
value (A x B) |
= |
RM5,279.00 |
| To
determine the number of units of RHB Mudharabah Fund |
| Present
NAV per unit (D) |
RM0.6943 |
| Units
held after switching [(A x B)/D)] |
= |
7,603.34
units |
| (ii) |
From RHB Islamic Bond Fund (or any other bond funds) to RHB
Islamic Growth Fund |
Assuming
a switch occurs when the RHB Islamic Bond Fund investment is held
for a period of less than 1 year, thus attracting an Exit Fee of
1%. Additionally, switching from bond funds to equity and balanced
funds attracts a fee equivalent to 50% (or such lower rate as determined
by the Manager) of the Sales Charge of the respective equity and
balanced funds.
| To
determine the Net Value of RHB Islamic Bond Fund to be switched |
| Present
holding of units (A) |
20,000
units |
| Present
Repurchase Price per unit (B) |
RM1.0220 |
| Total
value (A x B) |
= |
RM20,440.00 |
| Exit Fees
[(1% x (A x B)] |
= |
RM204.40 |
| Net value
[(A x B) - (1% x A x B)] |
= |
RM20,235.60 |
| To
determine the number of units of RHB Islamic Growth Fund |
| Present
NAV per unit (C) |
RM0.5279 |
| Normal
Sales Charge (D) (Assume at 6%) |
6% |
| 50%
Sales Charge (50% x D) |
= |
3% |
| Switching
Unit Price [C + (50% x D x C)] |
= |
RM0.5437 |
| Units
held after switching |
| (Net value/Switching
Unit Price) |
= |
RM20,235.60 |
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|
RM0.5437 |
| |
= |
37,218.32
units |
There
are fees and charges involved and investors are advised to consider
the fees and charges before investing in the fund
©2002,
RHB Capital Berhad
Disclaimer
and Indemnity
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