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Financial Dictionary - Purchase fee

Purchase fee

A fee that the management entity may charge the unit-holder when it purchases units in an investment fund. The Fund prospectus or the quarterly report will state the amount.

Purchase fees are charged only once, unlike management and deposit fees which are deducted daily from the fund's net asset value. This single payment is made when the unit-holder buys the fund units.

The amount of the fee is calculated as a percentage of the capital invested. For financial investment funds, these purchase fees may never exceed 5% of the net asset value of the units, as stipulated in Article 5 of Royal Decree 1082/2012 of 13 July.

The limit varies depending on the type of funds:

  • Financial funds: for this type of fund, neither the redemption and purchase fees nor the discounts applied to these fees, nor the sum of both, may be higher than 5% of the net asset value of the units.
  • Real estate funds: for these funds, purchase and redemption fees may not be higher than 5% of the net asset value of the units.

The purchase fee increases the purchase price, while the redemption fee reduces the sale price. This fee is not always charged and is optional.


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