Here are the details from Praemium’s fee change. Because of these changes, Nucleus is transitioning sub $200,000 clients to other platforms.
Please contact us if you have any concerns.
What’s changing?
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The following changes will be effective on 1 April 2024 and updates will be reflected in both the SMA and SuperSMA Product Disclosure Statements
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Fees and other costs
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Current Charge
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Effective 1 April 2024
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Transaction costs
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Brokerage charge 0.055%
Settlement fee $0.87
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Brokerage charge 0.099%
Settlement fee $0.55.
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Expense Recovery Fee
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Up to $100 per annum
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Up to $150 per annum.
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Fund Accounting Fee
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$12 per month
Not applicable for SMA
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$16 per month in SuperSMA.
The name of the fee will change to Account Keeping fee.
$8 per month in SMA
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Administration Fee
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0.00% for balances of $1,000,001 – $2,500,000
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0.04% for balances of $1,000,001 – $2,500,000
$15 per month minimum administration fee on all accounts.
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Cash Administration Fee
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1.30%
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1.40%
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Foreign exchange margin
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Praemium executes foreign exchange trades using an auto-FX product provided by the custodian and passes through the 0.15% margin to investors.
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Praemium will manage foreign exchange trades internally to achieve more favourable pricing. A margin of 0.20% will be applied to executed trades.
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Managed Fund Buy/Sell netting
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Praemium nets managed fund orders and applies the executed price to both buyers and sellers
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Praemium will continue to net managed fund orders and ensure that buyers and sellers receive the quoted fund entry and exit prices.
Any netting efficiencies will be retained by Praemium.
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All fees shown in this document are GST inclusive where applicable.
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