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The FondTesoros (Investment Funds in Treasury Securities)

 

 

 

  • viñeta The fees for the Fondtesoros may be the following: 
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  • 1.   Fees charged directly to the Fund

  • viñeta Management fee: the fee received by the Managing Institution as remuneration for its services.
  • viñeta  Custody fee: the fee received by the Deposit Institution (the one in which the investment fund has deposited the deeds it possesses), as remuneration for its services.

  • For short term Fondtesoros, the maximum combined total of these fees annually is 1.05% of the equity of the fund. For long term Fondtesoros, the Fondtesoro Collaboration Agreement establishes that for funds whose portfolio lasts longer than twelve months, the management fee plus the deposit will not exceed 1.25%.


    For the Fondtesoro Plus type of fund, the maximum limits of the fees charged for these services are 1.35% of the value of the average daily equity during the financial year.
  • 2.   Fees charged to the investor
  • For short term Fondtesoros, fees cannot be applied directly to the investor in the case of ordinary repayment.
    For long term Fondtesoros and Fondtesoros plus FI (formerly Fondtesoro FI and Fondtesoro Renta FI), fees (or equivalent charges) can be applied to the investor at the time of repayment.These fees are of two types:

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  • viñeta A repayment fee per se, which is subject to two limitations by the Fondtesoro Agreement: it can only be applied to shares repaid which the investor has possessed for a period equal to or less than a year; and it cannot exceed 1% of the amount repaid. Many of the existing Fondtesoros do not apply this fee.
  • viñeta  A discount in favour of the fund, additional to that of the repayment, which can only be applied in the case when the shares repaid have been held for less than 30 days, and which cannot exceed 2% of the amount repaid; this fee is applied for a very limited number of existing Fondtesoro funds, and additionally - except in extreme cases - it is unlikely to affect the small investor (who usually invests over a much longer timescale).

See Table"MINIMUM CONTRIBUTIONS REQUIRED AND FEES APPLIED BY MANAGING INSTITUTIONS"

 

 

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