Prospectus
WAM Active Prospectus
This Prospectus was dated 6 November 2007 and is for historical and reference purposes only.
Fees
In addition to managing the portfolio of investments of the company, the core duties of the Manager include the provision of financial and administrative support to ensure the maintenance of the corporate and statutory records of the Company; liaison with the ASX with respect to compliance with the ASX Listing Rules; liaise with ASIC with respect to compliance with the Corporations Act; liaison with the share registrar of the Company; and the provision of information necessary for the maintenance of financial accounts of the Company to be completed.
In its capacity as Manager, MAM Pty Limited is paid a management fee of 1% p.a of gross assets.
In addition, the Manager is to be paid, annually in arrears, a performance fee being 20% of the increase in the gross value of the portfolio above the high water mark:
The high water mark is the greater of the:
- The highest gross value of the portfolio as at the last day of the last performance period for which a performance fee was last paid or payable; and
- the gross proceeds raised from the issue of shares pursuant to the original prospectus.
The MER also includes other costs associated with running a public company such as ASX listing fees, custody fees and share registry costs. The Manager is focussed on keeping these costs as low as possible.
For more information on how fees are calculated, please refer to Page 30 in the Prospectus.