Item 5 – Management Fees and Compensation
All fees are negotiable, and the precise manner in which each client’s fees are determined
will be specified in the client’s account agreement with Banca Ifigest.
Banca Ifigest’s advisory and management fees generally are charged on the basis of the
aggregate market value of the assets in a client’s account (including cash and equivalent
items). Banca Ifigest’s standard management fee schedule, which may be subject to
exception if agreed by Banca Ifigest in writing on a case-by-case basis, is as follows:
FOR DISCRETIONARY INVESTMENT ADVISORY ACCOUNTS:
• Approximately 1% per annum
FOR NON-DISCRETIONARY INVESTMENT ADVISORY ACCOUNTS:
• Approximately 0.5% per annum
For discretionary investment advisory accounts, clients generally authorize Banca Ifigest to
debit Banca Ifigest’s fees from the clients’ accounts at third party custodial institutions. For
non-discretionary investment advisory accounts, Banca Ifigest will bill clients directly.
Banca Ifigest’s management fees are calculated and payable on a quarterly basis in arrears.
For purposes of calculating Banca Ifigest’s annual management fee, the aggregate market
value of the assets in the client’s account is determined as of the beginning of each calendar
quarter (before deducting applicable fees and charges). If there have been additions to or
withdrawals from the account during the quarter, the client's fee will be calculated on a pro
rata temporis basis. Banca Ifigest’s annual management fees are prorated for any period of
less than a full quarter.
Banca Ifigest also receives performance-based fees that are deducted or billed on an annual
basis, and which are described further in Item 6 of this Brochure.
Banca Ifigest’s fees are exclusive of brokerage commissions, transaction fees, and other
related costs and expenses which shall be incurred by the client. Clients may incur certain
charges imposed by custodians, brokers, third party investment and other third parties
such as fees charged by managers, custodial fees, deferred sales charges, odd-lot
differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes
on brokerage accounts and securities transactions. Mutual funds and exchange traded
funds also charge internal management fees, which are disclosed in a fund’s prospectus.
Such charges, fees and commissions are exclusive of and in addition to Banca Ifigest’s fees,
and Banca Ifigest shall not receive any portion of these commissions, fees, and costs.
Item 12 further describes the factors that Banca Ifigest considers in selecting or
recommending broker-dealers for client transactions and determining the reasonableness
of their compensation (e.g., commissions).