Kernel charges a member fee of $3 per month inclusive of GST, on total portfolio balances of over $1,000. If you have up to $1,000 in your Kernel portfolio (which includes your wallet) then there is no member fee charged.
The member fee is deducted from your wallet at the end of each month or part of that in the month you first deposit or fully withdraw.
Kernel charges a management fee for our investment funds. Your management fee is calculated on your total investment balance, which does not include your wallet.
For balances from $1-$24,999 the management fee ranges from 0.39%-0.55% per year depending on the Fund you have chosen.
For balances of $25,000 and above the effective management fee reduces to 0.29%-0.45% per year depending on the Fund you have chosen. This amount is calculated and deducted as part of the weekly unit pricing process within the fund.
The individual Fund investment fees are listed on the Funds page and within our Product Disclosure Statement.
How does this reduction work?
As the fund manager, we pay investors a rebate on their management fees when their total investment portfolio exceeds $25,000. We credit 0.10% per year (approximately a 25% saving on your management fee!) back to your wallet in monthly instalments.
More questions? Get in touch or chat us!