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Information
about the fees

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, we can chargé the following fees:

Entry fee

  • We charge it upon the execution of a purchase order.
  • The formula for calculating this fee is:
entry fee = purchase amount x entry fee rate

Example:
You purchase PU for PLN 1,000 and the fee is 3% -> the fee equals PLN 30, i.e. you actually purchase PU for PLN 970, and the distributor receives PLN 30.

In currency sub-fund:
You purchase PU for USD 1,000 and the fee is 3% -> the fee equals USD 30, i.e. you actually purchase PU for USD 970, and the distributor receives USD 30.

 

Exit fee

  • We charge it upon the execution of PU redemption orders.
  • The formula for calculating this fee is:
exit fee = net asset value of the fund per one PU x number of redeemed PU x exit fee rate

Example:
You redeem PU for PLN 1,000 and the fee is 1% -> the fee equals PLN 10, i.e. you actually redeem the PU for PLN 1,000, but you receive PLN 990, and the distributor receives PLN 10.

In currency sub-fund:
You redeem PU for USD 1,000 and the fee is 1% -> the fee equals USD 10, i.e. you actually redeem the PU for USD 1,000, but you receive USD 990, and the distributor receives USD 10.

 

Conversion fee

  • We charge it upon the execution of PU conversion orders.
  • Currently you can not order conversion from/to Santander Prestiż Fixed Income Dollar sub-fund.
  • The formula for calculating this fee is:
conversion fee = net asset value of the fund per one PU x number of converted PU x conversion fee rate

Example:
You exchange PU for PLN 1,000 and the fee rate is 1% -> the fee equals PLN 10, i.e. you actually exchange PU for PLN 990, and the distributor receives PLN 10. We will redeem PLN 1,000 from the register from which you exchange PU, you buy PU for PLN 990 and on the target register.

 

  • These fees are payable to distributor. We define fees and their rates in the schedule of fees.
  • We may decide to change the rate of the sales process fee currently charged.

In Santander Prestiż SFIO there is also a compensatory fee.

  • It may be charged for conversions if they are made from a sub-fund with a lower entry fee rate to a sub-fund with a higher entry fee rate. We do not charge this fee for conversions to a sub-fund with a lower or the same entry fee rate.
  • The amount of this fee is the difference between entry fee rate that applies in the sub-fund into which the PU are to be converted and entry fee rate in the previous sub-fund.
  • We do not currently charge this fee to conversion orders placed via: Santander Bank Polska S.A., KupFundusz S.A. and Santander TFI S.A.

Currently we do not charge fees related to the sales process in IKE and IKZE operating under the Santander funds.

  • We define the rates of fees in IKE and IKZE in separated schedules of fees .
  • In the case of a withdrawal, transfer payment or refund within 12 months from the date of concluding the IKE or IKZE agreement we may charge the additional fee. Currently we do not charge this fee.
  • We may decide to change the rate of the fees related to the sales process.

In Santander PPK SFIO fund we do not charge fees associated with the sales process.

Management feesFixed management fee

The management fee of the sub-fund is our remuneration. It may be different depending on the sub-fund and participation units category (hereinafter: PU).

  • Santander FIO (also under IKE) sells and redeems PU of category A, S and T.
  • Santander Prestiż SFIO (also under IKZE) sells and redeems PU of category B.
  • Santander PPK SFIO sells and redeems one class of PU (no specific name).
  • In Santander FIO and Santander Prestiż SFIO funds we have established a category of PU sold directly by the fund (D). We will inform about starting their sale on the website Santander.pl/TFI.

The PU valuations, that we publish, include the management fee and this is why you should not add it extra.

We describe the maximum management fee in:

  • The prospectuses - in Chapter 3 “Information about the Fund”, more precisely in the sub-chapters concerning individual sub-funds (section 4.5),
  • The statutes - appendix 2 to the fund’s prospectus.

In IKE operated under the Santander FIO, the management fee rates indicated for this fund there apply.

In IKZE operated under the Santander Prestiż SFIO, the management fee rates indicated for this fund apply.

We describe the maximum and actual rates of the management fee in:

  1. individual sub-funds factsheet
  2. schedule of management fees rates

We may decide to change the currently charged management fee rates.

Management feesPerformance fee

The performance fee is our remuneration for investment results achieved by the sub-funds.

  • We charge this fee in all sub-funds of Santander FIO and selected sub-funds of Santander Prestiż SFIO.
  • We charge it according to the reference model, in which the benchmark is the reference.
  • The fee is due, if the sub-fund achieves a result above the benchmark (the reference period is ultimately five consecutive years).
  • We calculate it in the form of a provision on the excess of the result of a given sub-fund over the benchmark. We calculate it based on the value of the participation unit (hereinafter: PU) after the management fee has been charged.
  • We collect it in annual periods. We determine it on the last day of the year's valuation and collect it by the 5th working day of the following year.
  • We charge it at the rate indicated in the table below. We calculate the rate on the surplus of the result of a given sub-fund over the benchmark.
  • We collect it also from redeemed PU, if at the date of redemption it was accrued, in proportion to the number of remitted PU of a given category.
  • We can charge the fee for investment results in the event of a nominal loss. This does not apply to Santander Prestiż Alfa and Santander Prestiż Fixed Income Active sub-funds.

We may charge the fee in the following sub-funds:

Fund Sub-fund Fee rate
Santander FIO All sub-funds 20%
Santander Prestiż SFIO Santander Prestiż Polish Equity
Santander Prestiż Corporate Bond
Santander Prestiż Government Bond
Santander Prestiż Short Duration
Santander Prestiż Alfa
Santander Prestiż Emerging Markets Equity
Santander Prestiż Technology and Innovations
Santander Prestiż Fixed Income Active


We may also charge the performance fee in relation to PUs acquired in IKE and IKZE operating under the Santander funds.

In Santander PPK SFIO fund the performance fee:

  • is calculated in the form of a reserve for each valuation day in a given year, in accordance with the provisions of:
    • the Act on PPK,
    • the Regulation issued pursuant to Art. 49 sec. 13 of the Act on PPK,
    • the fund’s statute,
  • is due, provided that:
    • a given sub-fund realises 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,
  • is charged annually – by the 15th working day after the end of the year,
  • is charged in the amount specified in the table below, taking into account the surplus of the sub-fund’s result over the reference rate,
  • has an additional annual limit of 0,1% of the sub-fund’s net asset value on the annual basis.

We charge the fee in the following sub-funds:

Fund Sub-fund Fee rate Annual limit
Santander PPK SFIO All sub-funds 20% 0,1%

We describe the maximum performance fee rates and the detailed rules for its calculation in:

  • The prospectus - in Chapter 3 "Information about the Fund", more precisely in the sub-sections on individual sub-funds (section 4.4),
  • The statutes - appendix 2 to the fund's prospectus.