Fees and charges

Ongoing costs are disclosed as a percentage of the total costs relative to the average net assets of the fund on an annual basis, and these costs are reflected in the fund’s unit price calculation. The calculation includes all expenses borne by the fund. This includes, among other things, all payments to the management company or AIFM, the depositary, and any investment advisers, as well as all payments for outsourced services, brokerage costs, registration and supervisory fees, audit fees, and legal services.

Certain costs are not included, such as subscription or redemption fees paid when buying or selling fund units. Performance-related fees may arise due to performance fees applied in underlying funds in which the fund invests, and reference is made to each fund’s prospectus for the methodology used in calculating such fees.

Stefnir calculates and discloses ongoing costs for its UCITS and alternative investment funds marketed to retail investors in accordance with Commission Delegated Regulation (EU) 2021/2268 of 6 September 2021, which amends the regulatory technical standards laid down in Delegated Regulation (EU) 2017/653 with respect to the underlying methodology and presentation of performance scenarios, the presentation of costs and the methodology for calculating summary cost indicators, the presentation and content of information on past performance, and the presentation of costs for packaged retail and insurance-based investment products (PRIIPs) offering multiple investment options, as well as the adjustment of the transitional arrangements for PRIIP manufacturers offering units in funds referred to in Article 32 of Regulation (EU) No 1286/2014 as underlying investment options, in line with the extended transitional framework provided for in that Article.

Ongoing costs are disclosed as a percentage of the total costs relative to the fund’s average net assets on an annual basis, and these costs are reflected in the fund’s unit price calculation. The calculation includes all expenses borne by the fund. This includes, among other things, all payments to the management company or AIFM, the depositary, and any investment advisers, as well as all payments for outsourced services, transaction costs, registration and supervisory fees, audit fees, and legal advisory services. Certain costs are not included, such as subscription or redemption fees charged when buying or selling fund units. Performance fees may arise due to performance fees in underlying funds in which the fund invests, and reference is made to each fund’s prospectus for the methodology used to calculate such fees.