Fund charges
Charges
The following sections explain the purpose of the charges disclosed within the Key Information Document (KID).
| Example Fund 1 | Example Fund 2 | |
|---|---|---|
| Sum Invested (€) | €20,000 | €20,000 |
| Entry Charge | 0.00% | 5% (€1,000) |
| Ongoing Charge | 0.3% (€60) | 0.5% (€100) |
| Transaction Costs | 0.06% (€12) | 0.12% (€24) |
| Total Costs | €72 | €1,124 |
| Final Balance | €19,928 | €18,876 |
Please note the above table is for illustrative purposes only. The period considered is 12 months and assumes the amount invested stayed the same. Past performance does not predict future returns. The value of an investment may rise as well as fall and you may not get back the amount originally invested.
Pricing Policies
UK domiciled funds fit into three different types of methodology for pricing the portfolio.
- Dual priced
- Single swinging
- Single priced with dilution levy
Janus Henderson only operates single swinging priced funds.
Single swinging priced funds
For each fund investors buy and sell shares or units at a single price which is approximately the midpoint between the funds' buying ("offer") and selling ("bid") prices. This use of a single price means that when buying shares or units you, as the investor, potentially pay a lower price than the fund itself would pay to buy the underlying investments in the fund. Equally, when you sell shares or units the price you receive will potentially be higher. Over time, the effect of this mis-match between prices, coupled with various dealing charges, taxes and commissions is to slightly reduce the value of the funds for continuing investors. This is called 'dilution'. In certain circumstances, a dilution adjustment may be applied to ensure fair treatment between investors joining, leaving or remaining in a fund. The price of the shares or units of a fund may be adjusted to protect its value from being reduced in the case of large scale movements into or out of that fund. Further details can be found in the full Prospectuses, under 'Dilution'.
Funds also incur costs as a necessary part of buying and selling the underlying investments, these are otherwise known as portfolio transaction costs, and include charges such as broker commission.