The Fisher Funds fee hurdle rate triggering bonus payments for managing growth assets is:
"The official cash rate" (OCR) + 5%.
On 13th April 2022 the OCR was increased to 1.5%. This means a Fisher Growth fund must earn over 1.5%+5%=6.5% per annum before a bonus payment becomes due to fund management.
https://fisherfunds.co.nz/investment...fees-expenses/
As you can see from the link above, the following fee information specifically links to the kiwisaver funds. There is no separate fee information that I can find disclosed for non kiwisaver Fisher funds. So I assume the fee structure is the same for both kiwisaver and non-kiwisaver managed funds.
Fisher pockets 10% of the returns above the 'performance hurdle' of the investment (leaving the investors with 90%). However the absolute value of this bonus is also capped to be no more than 2% of the total asset value of the fund. Furthermore, there is a clause in the bonus payment rules that says the trigger level for hurdles being set at a new high must be 'grandfathered'. That means if:
1/ a share fund does well and a bonus is paid out, AND
2/ then it falls back,
THEN the 'grandfathered' clause means that if it rises again to its previous high level, the fund managers do not get an 'extra bonus payment' for making up the same ground twice in a later time period.
SNOOPY
Originally Posted by Snoopy
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