Platform administration fees accrue to your account daily, but are recovered quarterly. You can view your accrued fee amount in your account overview.
Quarterly fee deduction at distribution:
The quarterly fee recovery process happens at the same time as the quarterly ETF distribution process for each ETF. Satrix has both distributing and non-distributing ETFs. Non-distributing ETFs do not make distribution payments as all income is automatically reinvested in the underlying ETF portfolio.
For distributing ETFs, the fee accrued per ETF is deducted from the distribution payment for that particular ETF.
The balance is either paid to your available cash (if you chose to have the distribution paid out) or automatically reinvested in that ETF (if you chose the reinvestment option).
Sale of ETF securities to recover platform fees:
ETF securities will automatically be sold to recover platform administration fees if:
the distribution amount was insufficient to recover the accrued fee the ETF is non-distributing Normal transaction costs for selling of ETFs are applicable.
Fee deduction upon sale of ETF:
A fee recovery process is triggered upon the sale of an ETF security. The proportionate fee accrued for that ETF will be deducted from the proceeds of the sale.