ICG Enterprise Trust charges

[20thcenturyboy]

Just looking at my statement for ICG Enterprise Trust and there's a section on product costs, which comes to a whopping 7.59%. Apparently these are on top of any annual management charge. Is this high % normal for this type of trust? The docs say the charges have always been there but "hidden" and now they have to show them up front. Just seems expensive.

[DavidM13]

I cant see how these can be "on top of any management charge" they are figures most likely taken from the European MiFID template (EMT) which pretty much lines up with the glossy KID document. I am not saying your wrong but what makes you think that annual management fee is separate? In fact, I think I am saying you are wrong come to think of it

I will also say, in their defence, that half of those charges are carried interests/incentives so are payable due to good performance. See below for details of those fees (taken from the glossy KID).



The impact of carried interest paid to the Manager (1.24%), togetherwith carried interest paid to third-party managers of the underlyingfund investments (1.80%).
Manager incentive fee: The carried interest payable to the Manager are 10% of the realised gain, provided the investment generates areturn in excess of 8% per annum. No incentive fee is charged on ICG and Graphite funds.
Underlying fund carried interest: The carried interest paid to the underlying managers and ICG is typically 20% of the realised gain of the fund, provided it generates a return in excess of 8% per annum.