Ongoing Charges Figure (OCF)

The OCF covers all the fees incurred for operating a fund throughout its financial year. These include the annual charge for managing the fund, administration and independent oversight functions, such as trustee, depository, custody, legal and audit fees. The OCF excludes portfolio transaction costs except for an entry/exit charge paid by the fund when buying or selling units in another fund. This will have an impact on the realisable value of the investment, particularly in the short term.