Swing Factor definition

Swing Factor means such amount, as determined by the Directors, by which the Net Asset

Swing Factor means such amount, as determined by the Directors, by which the Net Asset Value per Share may be adjusted upwards or downwards in order to take account of dealing costs and any other costs associated with the purchase or sale of assets of the relevant Fund, provided that where disclosed in the relevant Supplement, the Swing Factor shall not exceed such amount of the Net Asset Value as disclosed in the relevant Supplement and provided further that, for the purposes of calculating the expenses of a Fund, the Administrator may, where specified in the relevant Supplement, continue to use the unswung Net Asset Value.

Swing Factor means such amount, as determined by the Directors, by which the Net Asset Value per Share may be adjusted upwards or downwards in order to take account of dealing, transaction related costs (such as fiscal and other costs and charges) which would be payable on the effective acquisition or disposal of assets in the relevant Fund, provided that, for the purpose of calculating the expenses of a Fund which are based on the Net Asset Value per Share of the relevant Fund, the Administrator will continue to use the un-swung Net Asset Value per Share.

Examples of Swing Factor in a sentence

• Annex A specifies whether or not a single swinging policy is applied for a given Sub-Fund and sets out the maximum Swing Factor and the Swing Threshold, where applicable.

• A periodical review will be undertaken in order to verify the appropriateness of the Swing Factor in view of market conditions.

• The Board of Directors may determine the thresholds for the level of net in- or outflows relevant for the application of the Swing Factor.

• The Swing Factor will not exceed 1% of the unswung net asset value per Share.

• When net subscriptions in a Fund exceed a certain threshold on a given Dealing Day, the Net Asset Value is adjusted upwards by the Swing Factor.

• Under normal market circumstances, the Swing Factor shall not exceed 1% of the Net Asset Value of the relevant Fund on the relevant Dealing Day.

• As certain stock markets and jurisdictions may have different charging structures on the buy and sell sides, the Swing Factor may be different for net subscriptions and net redemptions in a Sub- Fund.

• Generally, the Swing Factor will not exceed two percent (2%) of the Net Asset Value per Share unless otherwise set out for each Sub-fund in its Supplement.

• In order to protect existing shareholders, the Net Asset Value of a class of shares may be adjusted upwards or downwards by a maximum percentage (the "Swing Factor") if the net aggregate transactions in Shares in the Sub-Fund on any particular Valuation Date exceed a threshold (known as the “swing threshold”) that is predetermined for the Sub-Fund by the Board and reviewed periodically.

• Whenever the Board of Directors exercises such right to increase the Swing Factor, the relevant notice shall be made available online at www.santanderassetmanagement.lu.

More Definitions of Swing Factor

Swing Factor means such amount, as determined by the Directors, by which the Net Asset Value per Share may be adjusted upwards or downwards in order to take account of dealing, other costs and fiscal charges, provided that where disclosed in the relevant Supplement, the Swing Factor shall not exceed such amount of the Net Asset Value as disclosed in the relevant Supplement and provided further that, for the purposes of calculating the expenses of a Fund, the Administrator may, where specified in the relevant Supplement, continue to use the unswung Net Asset Value. Where the Net Capital Activity in respect of a Fund on a given Dealing Day leads to (i) a net inflow of assets in the relevant Fund, the Directors may determine that the Net Asset Value per Share used to process all subscriptions, redemptions or conversions in that Fund on that Dealing Day be adjusted upwards by the Swing Factor or (ii) a net outflow of assets in the relevant Fund, the Directors may determine that the Net Asset Value per Share used to process all subscriptions, redemptions or conversions in that Fund on that Dealing Day be adjusted downwards by the Swing Factor, subject to any conditions set down in the Prospectus or relevant Supplement from time to time.

Swing Factor means such amount, as determined by the Directors, by which the Net Asset Value per Share may be adjusted upwards or downwards in order to take account of dealing, other costs and fiscal charges which would be payable on the

Swing Factor means such amount, as determined by the Directors, in consultation with the Manager, by which the Net Asset Value per Share may be adjusted upwards or downwards in order to take account of dealing, other costs and fiscal charges which would be payable on the effective acquisition or disposal of assets in the Company, provided that the swing factor shall not exceed 1.00 per cent of the Net Asset Value per Share of the Company and provided further that, for the purpose of calculating the expenses of the Company which are based on the Net Asset Value of the Company, the Administrator will continue to use the un-swung Net Asset Value.

Swing Factor means the amount, expressed as a percentage of the fund’s net asset value and determined pursu- ant to the fund’s swing pricing policies and procedures, by which a fund ad- justs its net asset value per share once a fund’s applicable swing threshold has been exceeded.

Swing Factor means the amount,expressed as a percentage of the fund’s net asset value and determined pursuant to the fund’s swing pricing policies and procedures, by which a fund adjusts its net asset value per share.