PORTFOLIO MANAGEMENT - FEE FOR THE FIRST ACQUISITION OF SECURITIES
A) One-time investments
Minimum investment: 5,000 €
Strategy | |||
| Amount invested | Conservative Conservative ESG | Balanced Balanced ESG | Dynamic Thematic ESG Dynamic ESG |
| up to € 49,999.99 | 1.50% | 2.50% | 3.00% |
| € 50,000 to € 199,999.99 | 1.50% | 2.00% | 2.00% |
| € 200,000 to € 499.999,99 | 1.00% | 1.50% | 1.50% |
| € 500,000 € to € 999,999.99 | 1.00% | 1.00% | 1.00% |
| € 1 million and above | 0,50% | 0,50% | 0,50% |
B) Regular investing/Long-term investment savings
Minimum monthly investment: €30
Minimum target amount: € 1,800 €
B1) Fee for the first acquisition of securities - one-off fee
| Target amount | Conservative Conservative ESG | Balanced Balanced ESG Real Estate | Dynamic Thematic ESG Dynamic ESG |
| € 1,800 to € 19,999.99 | 2.0 % | 2.8 % | 3.5 % |
| € 20,000 to € 29,999.99 | 1.8 % | 2.4 % | 3.0 % |
| € 30,000 to €49,999.99 € | 1.6 % | 2.0 % | 2.5 % |
| € 50,000 and more | 1.4 % | 1.6 % | 2.0 % |
B2) Fee for the first acquisition of securities – paid on an ongoing basis
| Target amount | Conservative Conservative ESG | Balanced Balanced ESG Real Estate | Dynamic Dynamic ESG Thematic |
| from €1,800 | 3.0 % | 3.8 % | 4.5 % |
B3) Fee for the first acquisition of securities – settled from each payment
Conservative Conservative ESG | Balanced Balanced ESG Real Estate | Dynamic Dynamic ESG Thematic |
| 5.0 % | 5.0 % | 5.0 % |
Capitalized terms have the meanings agreed in the Terms and Conditions. The following rules apply to the calculation of the fee for the first acquisition of securities under above points A) and B) in respect of both one-time and regular investing:
1. The fee for the first acquisition of securities, specified in points A), B1), and B2), will be calculated as the relevant percentage of the investment amount agreed in the Portfolio Management Agreement (as concerns regular investing, the investment amount is the target amount); the percentage is defined for the investment range under which the investment amount falls according to the first column of the tables specified in points A), B1), and B2) respectively, for the applicable selected investment strategy under the second or the third/ fourth/fifth column of the table specified in points A), B1), and B2) respectively for one-time or regular investing.
2. The fee for the acquisition of securities settled from each payment and specified in point B3) will be calculated as the relevant percentage of the actual investment credited to PI´s account, designated for the applicable selected investment strategy under the first or the second/third/fourth column of the table specified in point B3).
3. Where the contractually agreed investment amount (or the target amount in case of regular investing) is met and the existing Client transfers, without concluding an amendment to the relevant portfolio management agreement for an investment amount (or the target amount in case of regular investing) increase, another payment on the basis of the agreement, each such payment will be subject to the fee for the acquisition of securities in the amount of 4% except for the fee for the acquisition of securities settled from each payment as specified in point B3).
4. Should an existing Client wish to change contractually, on the basis of a new suitability assessment, the investment strategy agreed in an active portfolio management agreement and switch to another investment strategy with a higher percentage set out to calculate the fee for the first acquisition of securities under the tables specified in point A), B1), and B2) respectively for one-time and regular investing, either with or without increasing the investment amount or the target amount, the Client will settle only the difference between the fee for the first acquisition of securities calculated for the original investment strategy and the fee for the first acquisition of securities calculated for the new investment strategy. The previous sentence of this Clause applies only where the Client has already settled the full fee for the first acquisition of securities under points A), B1), and B2) on the basis of the original Portfolio Management Agreement, prior to the requested change of the investment strategy. The fee, if any, calculated in compliance with the first sentence of this Clause must be settled by the Client in full as a one-time payment, i.e. the Client cannot settle it on an ongoing basis similarly as the fee under point B2).
5. The fee for the first acquisition of securities specified in points A) and B1) is payable as onetime payment in full in advance. The fee for the first acquisition of securities under point B2) shall be settled on an ongoing basis from each payment made by the Client, applying the 50:50 ratio (it means that 50% of each payment made by the Client will be used to settle the fee and the remaining 50% will be invested) until its full settlement; this fee type cannot be used for long-term investment savings (LIS) products.
6. Fee amounts may vary, depending on what has been agreed with the Client.
7. The fee for the first acquisition of securities is the payment for the first acquisition (purchase) of securities for the Client´s managed portfolio and covers transaction costs. The Client acknowledges that this investment service is provided to them in full and they fully benefit from it at the moment a security is credited to the Client´s Client Account and therefore, the fee for the initial acquisition of securities is not refunded, not even partially, in the event of early termination of the Portfolio Management Agreement. This fee does not cover investment advice services.