Fees associated with the sales process
Upon the purchase, redemption and conversion of participation units (hereinafter: PU) of Santander FIO and Santander Prestiż SFIO funds, the following fees can be charged:
Entry fee is charged upon the execution of a purchase order. The formula for calculating the entry fee is as follows:
Exit fee is charged upon the execution of PU redemption orders. Its value depends on the time of holding PU. The formula for calculating the exit fee is as follows:
Conversion fee is charged upon the execution of PU conversion orders. Its value depends on the time of holding PU subject to conversion. The formula for calculating the conversion is as follows:
These fees are due to the distributor and are defined in the schedule of fees and charges.
Santander TFI may decide to reduce the rate of the sales process fee currently charged.
Information about Santander Prestiż SFIO promotions can be found here
Information about Santander FIO promotions can be found here .
There is no entry fee charged in an IKE operated under the Santander FIO fund.
The rates of fees in IKE are specified in the schedule of fees and charges.
In the case of making a withdrawal, transfer payment or refund within 12 months from the date of concluding the IKE maintenance agreement, Santander TFI may charge an additional fee in the amount specified in the IKE maintenance agreement - currently the fee rate is 0%.
Santander TFI may decide to reduce the rate of the sales proscess fee currently charged.
Information about IKE promotions can be found here.
Santander PPK SFIO fund does not charge fees associated with the sales process.
Management feesFixed management fee
The management fee of the sub-fund is the remuneration of the management company and may be different depending on the sub-fund and participation units category (hereinafter: PU).
- Santander FIO (also under IKE) sells and redeems of PU: A, S, T.
- Santander Prestiż SFIO sells and redeems of PU - B.
- Santander PPK SFIO sells and redeems one class of PU (no name).
- In Santander FIO and Santander Prestiż SFIO funds there were established a category of PU sold directly by the fund (D) - about beginning of their sale the Society will inform on the website Santander.pl/TFI.
The published valuations of PU include the management fee and should not be added.
The maximum management fee are indicated in the prospectuses of the funds in Chapter 3 "Information about the Fund", specifically in the sub-chapters concerning individual sub-funds (point 4.5) and the statutes, which constitute Appendix 2 to the prospectus of a given fund.
In IKE operated under the Santander FIO fund, the management fee rates indicated for the Santander FIO fund apply.
The maximum and actual rates of the management fee are indicated in:
Santander TFI may decide to reduce the management fee rate currently charged.
Management feesPerformance fee
The performance fee is the remuneration of the management company for achieved investment results above level specified in the fund’s prospectus.
In selected sub-funds of Santander FIO and Santander Prestiż SFIO funds this fee:
- is charged according to the High Water Mark - only when the new highest Net Asset Value per participation unit (hereinafter: PU) has been reached within the last 365 days,
- is calculated on the value of PU after the management fee has been charged,
- is charged at the rate indicated in the table below - the rate (indicated in the table below) is calculated on the increase in the value of PU *,
- may vary depending on PU category present in the fund,
- has an additional annual limit of 2% - per annum, calculated as 365 consecutive days, of the average value of the assets of the relevant category of PU over the 365 days preceding the valuation date for which the fee may be charged, calculated relative to the most recent 365 days.
The fee may be charged in the following sub-funds:
|Fund||Sub-fund||Fee rate||Annual limit|
|Santander FIO||Santander Small and Medium Caps Equity||15% *||2%|
|Santander Prestiż SFIO||Santander Prestiż Alfa
Santander Prestiż Emerging Markets Equity
Santander Prestiż Technology and Innovations
The performance fee may also be charged in relation to PU acquired in IKE operated under the Santander FIO fund, provided that this fee is charged in the relevant sub-fund.
In Santander PPK SFIO fund the performance fee is not charged until 31.12.2021 (in the case of the Santander PPK 2065 sub-fund until 31.12.2023) with the possibility of extending the fee waiver period.
After the expiry of the above-mentioned deadlines, the performance fee in the Santander PPK SFIO fund may be charged in the amount of up to 0.1% of the average annual value of the assets of a given sub-fund, provided that:
- a given sub-fund realizes a positive rate of return for a given year,
- a given sub-fund achieves a rate of return exceeding the reference rate, calculated in accordance with the Regulation issued pursuant to Art. 49 sec. 13 of the Act on PPK,
- a given sub-fund achieves a rate of return on the last valuation date in November in a given year at a level not lower than 75% of the highest rates of return of funds on the same defined date.
The maximum rates of the performance fee and the detailed rules for its calculation are indicated in the Prospectuses in Chapter 3 „"Information about the Fund", specifically in the Sub-chapters on individual sub-funds (point 4.4) and in the statutes, which constitute Appendix 2 to the fund's prospectus.