Past version: effective from 25/11/2009 - 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 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) determined on 10 November (of the year immediately prior to the calendar year for which the fee is payable);
(b) determined at the most recent valuation conducted prior to the date in (a) if no valuation was conducted for the date in (a); or
(c) as at the date of registration or notification, if the registration or notification of a
Fund takes place after the date in (a),
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.