What are the fees associated with investing in the Fund?

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Manning Asset Management charges a base fee of 0.5% (for balances of $250,000+) or 0.75% (for balances under $250,000) of the Net Asset Value of the Fund holdings per annum. In addition, a performance fee of 10% of the Fund’s outperformance (post base fee) of the RBA cash rate calculated on a monthly basis, plus taxes is charged. This is subject to a high watermark.

In addition, there is a buy/sell spread of 0.25%/0.25% charged at time of investment (except for distribution reinvestments). This is paid into and retained by the Fund.

Manning Asset Management may recover expenses directly incurred in managing and administering the Fund (expense recovery). Please see Section 10, Fees and Costs of the Information Memorandum for a more detailed explanation.

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