Past version: effective from 05/11/2008 - 24/11/2009
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Operator must pay to the DFSA in respect of each Domestic Fund for which it is the Operator the annual fee prescribed in (2) for any period after the initial period described in FER Rule 3.9.1.
(2) The annual fee for any period after the initial period 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.
(3) The net asset value, for the purposes of (2), is the net asset value:
(a) on 10 November;
(b) determined at the most recent valuation conducted prior to 10 November; or
(c) as at the date of registration or notification, if the registration or notification of a
Fund takes place after 10 November,
calculated in accordance with CIR section 6.5.
(4) The annual fee in (2) is subject to a minimum amount of $10,000 and a maximum amount of $50,000.