Common use of Fund Management Charge Clause in Contracts

Fund Management Charge. a. Under this Policy, the fund management charges shall be as follows: Fund management charge (annual basis) 0.75% 0.85% 0.95% 0.75% b. This is a charge levied as a percentage of the Account Value and shall be appropriated on an annual basis by adjusting the NAV of the Fund on each Valuation Date. c. The fund management charge to be deducted on each Valuation Date will be equal to the annual rate as mentioned above divided by 365 (Three Hundred Sixty Five) and multiplied by the number of days that have elapsed since the previous Valuation Date. The fund management charges may increase from time to time after the prior approval of the Authority, but shall not exceed 1.35% (One and Thirty Five Hundredths percent) of the Account Value per annum in any event. d. The fund management charge would be subject to service tax and education cess, if any, as per the applicable laws and shall be entirely borne by the Master Policyholder.

Fund Management Charge. a. i. Under this Policy, the fund management charges shall be are as follows: Fund fund management charge (annual basis) 0.75% 0.85% 0.95% 0.75% b. ii. This is a charge levied as a percentage of the Account Value and shall be appropriated on an annual basis by adjusting the NAV of the Fund on each Valuation Date. c. iii. The fund management charge to be deducted on each Valuation Date will be equal to the annual rate as mentioned above divided by 365 (Three Hundred Sixty Five) and multiplied by the number of days that have elapsed since the previous Valuation Date. The fund management charges charge may increase from time to time after the prior approval of the Authority, but shall not exceed 1.35% (One and Thirty Five Hundredths percent) of the Account Value per annum in any event. d. iv. The fund management charge would be subject to service tax and education cess, if any, as per the applicable laws and shall be entirely borne by the Master Policyholder.