Overview
Te Rūnanga has agreed to pay all the fees and expenses of Whai Rawa Fund Limited (WRFL) (acting in its capacity as Manager of the Whai Rawa Unit Trust) on an on-going basis while WRFL remains as the Manager of the Whai Rawa Unit Trust. In the future, Te Rūnanga may decide to reduce the amount it pays towards fees and costs, or decide not to pay them at all.
Any fees or costs not paid by Te Rūnanga or any other third party will be met by the Whai Rawa Unit Trust and charged to Members’ accounts.
Specific costs connected to fund management services for the Whai Rawa Unit Trust are charged to the scheme and thereby funded by Members. Outlined below is information regarding the various fees and costs associated with the Whai Rawa Unit Trust.
Fees and Charges
The Manager (Whai Rawa Fund Limited) is entitled to be reimbursed for all costs and expenses it incurs in its role as Manager of Whai Rawa. The Manager is also entitled to reimbursement for any GST it is required to pay on those expenses. You can find out the current amount of the level of costs and expenses incurred by the Manager at the time you join Whai Rawa by contacting us on 0800 WHAI RAWA (0800 942 472).
These are costs Te Rūnanga has agreed to pay on an on-going basis.
The Administration Manager’s (Mercer (N.Z) Limited) fee contains two components, i) a fixed fee for base services; and ii) a volume based fee relating to the number of Members in the Whai Rawa Unit Trust. You can find out the current amount of the Administration Manager’s fee at any time by contacting us on 0800 WHAI RAWA (0800 942 472).
These are costs Te Rūnanga has agreed to pay on an on-going basis.
The Supervisor (Trustees Executors Limited) is also entitled to be reimbursed for any GST it pays on its fee. The Supervisor’s fee may change from time to time on agreement with the Manager. You can find out the level of the Supervisor’s fee at any time by contacting us on 0800 WHAI RAWA (0800 942 472).
These are costs Te Rūnanga has agreed to pay on an on-going basis.
The Fund Manager, (Mercer (N.Z.) Limited) is responsible for managing the underlying fund in which Whai Rawa is invested (being three funds within Mercer Investment Trusts New Zealand). The Fund Manager is entitled to a fee payable from Whai Rawa’s assets equal to:
- 0.50% per annum of the net asset value of the funds invested by Whai Rawa in the Socially Responsible Conservative Portfolio. The total annual fund charges are set out as a percentage of the net asset value of the fund. The Annual Fund Charges cover the underlying Fund Manager’s fee and expenses. This fee is 0.48% per annum.
- 0.74% per annum of the net asset value of the funds invested by Whai Rawa in the Socially Responsible Balanced Portfolio. The total annual fund charges are set out as a percentage of the net asset value of the fund. The Annual Fund Charges cover the underlying Fund Manager’s fee and expenses. This fee is 0.69% per annum.
- 0.86% per annum of the net asset value of the funds invested by Whai Rawa in the Socially Responsible Growth Portfolio. The total annual fund charges are set out as a percentage of the net asset value of the fund. The Annual Fund Charges cover the underlying Fund Manager’s fee and expenses. This fee is 0.79% per annum.
The Fund Manager’s fee may change from time to time on agreement with the Manager.