Fee Schedules

For a given investment, the applicable fee tier varies based on the type of fund instrument. The appropriate fee tier for an investor is determined by their classification and the size of their investment.

Fee Tier Suitability

Property	Description
Minimum Investment	The lowest amount of capital that an investor must commit to qualify for a particular fee tier.
Maximum Investment	The highest amount of capital that an investor can commit while still remaining within a particular fee tier. This attribute might often be null.

Fee Components

Property	Description
Performance Fee %	Carry, the percentage of the fund's profits assigned as a fee for this particular tier.
Management Fee %	The yearly fee, specified as a percentage of the investor's assets within the fund, applied for managing the investments in this given tier.
Expense Cap Fee %	The upper limit percentage of the fund's assets that can be utilized to cover operational costs such as auditing and tax preparation.

Fee Schedule

Property	Description
Fee Period	The frequency at which the fee is calculated - monthly, quarterly, or yearly.
Charge Period	The frequency at which the fee is deducted from the fund instrument's allocations.
Fee Percentage	The proportion of the fee charged at the fund instrument level, according to the fee period.
Fee Amount	The specific amount charged. This field is applicable only for one-time fee schedules.
Type	Specifies if the fee payment is a one-time occurrence or a recurring charge.

{
  "fee_schedules": [
    {
      "tier_id": "4b989588-5cc4-4c1c-a2c1-ef0393951b50",
      "minimum_investment": {
        "value": 100000,
        "currency": "USD"
      },
      "maximum_investment": null,
      "expense_cap_fee": {
        "fee_period": "yearly",
        "charge_period": "quarterly",
        "fee_percentage": 0.625,
        "fee_amount": null,
        "type": "recurring"
      },
      "management_fee": {
        "fee_period": "yearly",
        "charge_period": "quarterly",
        "fee_percentage": 1.000,
        "fee_amount": null,
        "type": "recurring"
      },
      "performance_fee": {
        "fee_period": "yearly",
        "charge_period": "quarterly",
        "fee_percentage": 0.000,
        "fee_amount": null,
        "type": "recurring"
      }
    }
  ]
}

Fee Schedule and Net Asset Value

The Net Asset Value (NAV) of a fund instrument incorporates the fees as per the associated fee schedules. An investor's position in a particular fund instrument defines their allocation to a specific fee schedule tier. These tiers are established based on a minimum commitment amount, which subsequently dictates the investor's placement within the tier structure.