Costs

SKAGEN does not charge a subscription or redemption fee for any of the funds. In our equity funds we have a fixed annual management fee, as well as a variable management fee. In our fixed income funds you only pay a fixed annual management fee.

Costs in SKAGEN's funds

In SKAGEN, payments are made on the basis of how well we succeed in managing our funds, not through the purchase and sale of our funds.

Costs 
Subscription in equity and fixed income funds* 0%
Transfer of units between SKAGEN's funds 0%
Redemption 0%

*Applicable when subscribing directly from SKAGEN. Some partners may charge a subscription fee.

Annual management fee for SKAGEN Vekst A

Fixed annual management fee:

Fixed management fee 1% per annum, calculated daily and charged quarterly (includes management, distribution, fixed deposit costs, etc.).

Variable management fee:

Better value development than 6% per annum, calculated daily, is shared 90/10 between the unit holders and the management company. Charging of variable management fee annually on 31 December. A charge of the variable management fee may solely be made if the unit value as at December 31st exceeds the unit value at the previous charge/settlement of the variable management fee (the high watermark).

Annual management fee for SKAGEN Global A

Fixed annual management fee:

One percent fixed annual management fee, calculated daily and charged quarterly (includes management, distribution, fixed deposit costs, etc.).

Variable management fee:

Better value development measured in percent in the fund’s asset value compared with the MSCI All Country World Daily Total Return Net $ (in NOK) is shared 90/10 between the unit holders and the management company. Thus, the fund may be charged a variable management fee even if the fund’s return has been negative, as long as the fund has had a better value development than its benchmark index. In the opposite case, the fund may have a positive return without being charged a variable management fee, if the value development measured in percent has not been better than the benchmark. The variable management fee is calculated daily and charged annually.

Annual management fee for SKAGEN Kon-Tiki A

Fixed annual management fee:

Two percent fixed annual management fee. Calculated daily and charged quarterly (includes management, distribution, fixed deposit costs, etc.).

Variable management fee:

Better value development measured in percent in the fund’s asset value compared with the MSCI Emerging Markets Index Daily Traded Net Total Return $ (in NOK) is shared 90/10 between the unit holders and the management company.

However, the total annual management fee charged may not exceed 4 percent of the fund’s average annual asset value.

If the fund’s asset value shows a poorer development measured in percent than the benchmark index, 10 percent of the poorer value development is deducted from the fixed management fee. However, the total annual management fee charged may not be lower than 1 percent of the fund’s average annual asset value.

The variable management fee is calculated daily and charged annually.

Annual management fee for SKAGEN m2

Fixed annual management fee:

Fixed annual management fee of 1.5 percent calculated daily and charged on a quarterly basis (includes management, distribution, fixed deposit costs, etc.). 

Variable management fee:

Better/worse value development measured in percent in the fund's asset value compared with the MSCI ACWI Real Estate IMI (in NOK) is shared 90/10 between the unit holders and the management company. The total management fee charged constitutes a maximum of 3 percent and a minimum of 0.75 percent per year. In case of a percentually poorer value development in the net assset value per unit than the benchmark index, the management company will deduct 10 percent of this difference from the management fee. The overall management fee may not be lower than 0.75 percent of the fund's average annual assets under management, however.

The variable management fee is calculated daily and charged on an annual basis.

Annual management fee for SKAGEN Tellus

The fixed annual management fee is 0.8 percent of the assets under management. The fixed management fee is calculated daily and charged on a quarterly basis.

There are no limits on the number of withdrawals per year.

Good results are no guarantee for future returns

Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skill, the fund’s risk profile and subscription and management fees. The return may become negative as a result of negative price developments.