The Austrian Financial Market Authority FMA today published on the FMA website the new survey of customary charges and fees of investment firms, issuers and custodian banks. Few changes can be recognised compared with the first survey in 2010, with the only differences being a slight widening in the range of fees charged for consulting (0.5% to 1.5% of invested assets per year) and in the range of performance-related remuneration (10% to 25% of performance per year).
Included in the published figures are the fees customarily charged by investment firms, such as consulting fees, management fees, performance-related remuneration, brokerage fees that are independent of products and other fees charged directly to the customer. The survey also covers the entry fees customarily charged by issuers for products with high, medium and low levels of risk, as well as bonus payments, other fees charged and internal expenses. The customary fees charged by custodian banks, such as safe deposit charges, expenses and transaction fees, are also presented.
The charge ranges published by the FMA are intended as a guideline for customers when looking for investment services. Providers are required to direct their customers’ attention to the FMA publication, although they may also charge fees that vary from the listing.
According to law, this data must be gathered by the interest group of the financial service providers, the Association of Financial Service Providers of the Austrian Federal Economic Chamber (WKO). As specified in section 75 para. 8 of the 2007 Wertpapieraufsichtsgesetz (WAG; Securities Supervision Act), the FMA is required to publish on its website the customary charges in the form of ranges.
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-5106
+43/(0)676/882 49 516