Part 1 - Periodic fees payable
| Scheme type | Basic fee (£) | Total funds/sub-funds aggregate | Fund factor | Fee (£) |
|---|---|---|---|---|
ICVC, AUT, ACS, Money market funds with effect from 21 July 2018, schemes recognised under section 271A of the Act
| 40.00 | 1-2 3-6 7-15 16-50 >50 | 1 2.5 5 11 22 | 40.00 100.00 200.00 440.00 880.00 |
| non-UK AIFs recognised under section 272 of the Act | 160.00 | 1-2 3-6 7-15 16-50 >50 | 1 2.5 5 11 22 | 160.00 400.00 800.00 1,760.00 3,520.00 |
Fees are charged according to the number of funds or sub-funds operated by a firm as at 31 March preceding the relevant fee year. Where a new collective investment scheme becomes authorised during a fee year, fees are charged according to the number of funds or sub-funds operated by a firm as at the date of authorisation. Where more than one fund or sub-fund is operated, the number of funds (not including the umbrella or parent fund) produces a 'fund factor' in accordance with the table above, which is then applied to a basic fee to produce one total fee per operator. Fund factors are applied per operator rather than per scheme so that the fees relate to the number of funds rather than the number of schemes. This means that, for example, an authorised fund manager of three schemes pays the same as an operator or authorised fund manager of one scheme with three sub-funds (as only the sub-funds are counted).
Umbrellas recognised under sections 271A or 272 of the Act are charged according to the number of sub-funds which are recognised under section 271A or 272 of the Act (subject to the note below) as at 31 March immediately before the start of the period to which the fee applies. For example, for 2024/25 fees, a reference to 31 March means 31 March 2024.
In the event that an umbrella were to have both sub-funds that are recognised under section 271A of the Act and sub-funds that remain recognised under regulation 62 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 for the time being, the calculation of the periodic fees charged to the umbrella will take into account all of those sub-funds. For the avoidance of doubt, in this scenario only one fee will be payable for both FEES 4 Annex 4R Part 1 and FEES 4A Annex 2R Part 1 purposes.
Part 2 - Periodic fees for AIFs marketed in the UK, following a notification to the FCA under regulation 57, 58 or 59 of the AIFMD UK regulation
| Kind of notification | Fee per AIF (£) |
|---|---|
| Notification under regulation 57 of the AIFMD UK regulation | 407 |
| Notification under regulation 58 of the AIFMD UK regulation | 284 |
| Notification under regulation 59 of the AIFMD UK regulation | 407 |
Part 3 - Periodic fees paid by small registered UK AIFMs
| The annual fee for small registered UK AIFMs is £801 |