CTHIn ForceLegislation
Financial Sector (Collection of Data) (reporting standard) determination No. 116 of 2023
MM
Start here
Get a plain-English read of M
Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 116 of 2023.
M
| Management fee rate | This is the FUM management fee rate applying at the end of the reporting period to the benefit fund to cover the cost of operating and administering the benefit fund. This rate excludes investment management expenses and is before tax. This rate would be disclosed to members on the product disclosure statement and / or on letters to members (if there is a change in the rate). |
|---|---|
| Members’ combined account balances | This is the fair value of all the fund member’s combined account balances. This excludes unallocated surpluses. |