Ongoing costs

The "ongoing costs" are shown in the Key Information Document. These costs include various types of costs. These costs are paid from the fund assets and are already considered in the fund price. The exact calculation of the ongoing costs is regulated by law. In the Key Information Document, the ongoing costs are divided into two groups:

• management fees and other administrative or operating costs
• transaction costs

The "management fees and other administrative or operating costs" include payments in particular to:

• the management company of the investment fund (e.g. "management fee" or "administration fee")
• the custodian bank
• investment advisors
• auditors
• In addition, the ongoing costs of any sub-funds included are taken into account in this figure.

The explicit and implicit transaction costs incurred directly in the fund are listed under "transaction costs".

The reporting of "management fees and other administrative or operating costs" and "transaction costs" is updated at least once a year. The figures are given as a percentage of the average fund assets.