Past version: effective from 05/11/2008 - 10/07/2010
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Operator must pay to the DFSA in respect of each Domestic Fund for which it is the Operator the initial annual fee prescribed in (3) for the period immediately following registration or notification until the end of the year.
(2) The initial annual fee must be paid to the
(a) in the case of a
Public Fund, at the time of registration; and
(b) in the case of a
Private Fund, at the time of notification to the DFSA pursuant to Part 8 of the Collective Investment Law 2006.
(3) The initial annual fee is:
(a) the amount calculated by multiplying the net asset value of the
Fund by 0.001; or
(b) in the case of an
Umbrella Fund, the amount calculated by adding together the net asset value of each of its sub-funds and multiplying that total figure by 0.001;
multiplied by the number of whole calendar months between the date of registration or notification and the end of the year, and divided by 12.
(4) The net asset valuation, for the purposes of (3), is the net asset value as at the date of registration or notification.
(5) The initial annual fee in (3) is subject to a minimum amount of $10,000 and a maximum amount of $50,000.