Services and fees

Investment management

Walsh & Company Asset Management Limited is the manager of the Company (Manager). The Manager provides investment management services to the Company including, but not limited to, researching and recommending the best governed Australian companies within the S&P/ASX 100 as ranked by the Manager’s corporate governance analysis in consultation with third party corporate governance research providers. The Manager’s proprietary investment process provides the Fund with a disciplined, index-like portfolio with rebalancing quarterly. The Manager regularly monitors and refines the portfolio, managing the risk of the Fund’s investments.

For these services, the Manager charges a fee of 0.19% of gross assets of the Fund per annum (inclusive of GST net RITC). Subtracted from this fee are allowable expenses as described in the management agreement. These include fees payable to the directors of the fund for the performance of their duties as directors and fees payable to the auditor in connection with the audit of the annual financial statements of the Fund and the auditor review of the half yearly financial statements.

The Manager does not charge a performance fee.

Administrative Services

Australian Fund Accounting Services Pty Limited (a related entity to the Manager) provides administration and accounting services to the Fund. Time spent by staff is charged to the fund at agreed market-based rates under a services agreement.