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How are QuietGrowth fees calculated?
Each month you are charged QuietGrowth fee equal to the sum of QuietGrowth fee incurred for each day of that month. QuietGrowth fee incurred for each day is equal to 1/365 (1/366 on a leap year) of the annual rate multiplied by the portfolio value over $10,000 as of close of markets for that day.Example:
Shirley invests $109,000 in a diversified portfolio in QuietGrowth. Shirley begins investing on April 3rd. Let’s assume that the end-of-the-day portfolio value on April 3rd is $110,000. QuietGrowth’s annual fee rate is 0.5% for $110,000 invested. As QuietGrowth does not charge annual fee on the first $10,000 of the investment, Shirley's QuietGrowth fee will be calculated only for the managed assets greater than $10,000, that is $100,000.
Therefore, Shirley’s QuietGrowth fee for April 3rd equals: (0.5% / 365) * (the portfolio value greater than $10,000) = (0.5% / 365) * $100,000 = $1.36986301.
Let’s assume that the end-of-the-day portfolio value on April 4th is $112,000. Shirley’s QuietGrowth fee for April 4th equals: (0.5% / 365) * $102,000 = $1.39726027.
At the end of April month, QuietGrowth fee for that month will be charged from her portfolio.