Ongoing Charges


The ongoing charges figure is defined by the Investment Association (IA) as the "cost of investing in a fund, expressed as a percentage of the value of your investment" and refers to the costs "used to pay for investment management, administration and independent oversight of the fund".

Ongoing charges may vary from year to year and reduce the potential growth of an investment in the Fund. The figure for ongoing charges excludes costs associated with buying and selling securities in the Fund's underlying portfolio.

For the 12 months to 30 June 2019, the Fund's ongoing charges figure was 0.78%. This figure is normally calculated every 6 months and is based on the actual expenses for the 12-month periods ending on 30 June and 31 December.