Does Save charge an advisory or management fee for Market Trust?

Modified on Mon, 09 Oct 2023 at 03:20 PM

Save charges a per annum management fee of 0.79% (0.54% annual advisory management fee, plus a 0.25% annual administration fee) for the Market Trust Wrap Fee Program. Save will collect its annual administration fee of 0.25% at the beginning of each term year. This administration fee is never rebated to the customer, even in the event of a withdrawal of funds prior to full program term. The 0.25% annual administration portion of the management fee will be retained by Save for sub-periods during the program term that do not exceed 0.79%. At the end of each term year, Save will collect the annual advisory management fee of 0.54% only if the account return exceeds 0.79% during the term year (example: 1-year return of less than 0.79% means no advisory management fee is collected whereas 1-year return of greater than 0.79% means the annual advisory management fee is collected). If the account return exceeds 0.79% per annum over the course of the program term (example: 5-year return greater than 3.95%), then Save will collect any advisory management fees that were not collected during years with account returns less than 0.79%. If the account return does not exceed 0.79% per annum (example: 5-year return is less than 3.95%), then Save will only collect the annual advisory management fee for the number of individual 1-year sub-periods during the program term where the account return exceeded the 0.79% level. Once collected, this advisory management fee is never rebated. Should a program be withdrawn prior to the end of the program term, Save will prorate the annual administration fee yearly and the annual advisory management fee monthly. The annual administration fee of 0.25%, once collected, will not be rebated. The annual advisory management fee of 0.54%, once collected, will not be rebated. For example: program termination at 15 months would result in two full annual administration fees, one full annual advisory management fee, and one partial annual advisory management fee being collected. The full annual advisory management fee is collected only when the account return exceeds 0.79% for the first 1-year interval. This partial annual advisory management fee is collected only when the account return exceeds 0.1975% (0.79%*3/12) for the 2-month interval starting at the end of the first 1-year term. The minimum management fee charged per year during program year term is 0.25% per annum (administration fee portion of management fee). The maximum management fee charged over a program term is 0.79% per annum.

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