December 2018. 6.4A Foresight shall, within 1 month of the end of each financial year of the Foresight ITS calculate the annual return on Your Portfolio for the period (“Calculation Period”) from the date of Your investment in the Foresight ITS to the last Business Day of that financial year. Annual return shall mean income returns (excluding capital growth) on the funds invested by You in Your Portfolio (net of the initial charge of 2.5%, any upfront adviser charges that are facilitated and any withdrawals by You) and shall be calculated on a cumulative basis (without compounding) after deduction of the costs and expenses of the Foresight ITS and before deduction of the Foresight management charges. In relation to each Calculation Period, Foresight shall be entitled to an annual management charge of 2% per annum (1% per annum from 1 October 2016) of the funds invested by You in Your Portfolio (net of the initial charge of 2.5%, any upfront adviser charges that are facilitated and any withdrawals by You). Payment of the annual management charge for any Calculation Period shall be determined as follows:
Appears in 4 contracts
Samples: Customer Agreement, Customer Agreement, Customer Agreement
