If, in this example, the Cumulative checkbox was selected ,the system would calculate the fee at 1.50% for the first 100,000 and 1.00 for the balance of the fund up to 200,000.
In the Calculation Method section If you are using a stepped fee, select the Stepped Fee radio button and then do the following:
- Select the Cumulative checkbox if you want to assess a different fee factor to each Fund balance range (for example, 1% up to $50,000, and 5% from $50,000 to $100,000). Clear the checkbox if you want to assess a single fee factor to the entire Fund value depending on the highest value the Fund has reached.
- Enter the upper limit of the Fund balance range in the Value Amount field. Funds with balances less than or equal to this amount will be assessed the selected fee.
- Enter either % or $ to indicate whether you want to charge a flat fee or a percentage.
- In the Fee Factor field, enter the dollar amount or percentage that you want to charge.