Our remuneration and the associated costs of our asset management are designed in such a way that harmful conflicts of interest cannot arise, which is unfortunately the norm at many banks. This means that we do not use any in-house products and do not accept any commissions, commissions or “kickbacks” from financial product manufacturers. We also do not charge performance fees (profit-related fees) because they are expensive for clients in the long term, reduce returns and create risk-increasing false incentives for the manager. This focus on lower fees is critical because the cost of asset management has a significant long-term impact on the investor's final wealth and net return.
Our form of compensation is simple. It takes the form of an “assets under management fee”, i.e. a quarterly service fee depending on the assets under management in your portfolio. We do not quote our remuneration without VAT, as is the manipulative and customer-unfriendly practice in the financial industry, but including VAT. The amount of the fees incurred is therefore always transparent.
We support clients with an investment volume of one million euros or more and an assets under management fee of 0.900% (including VAT) per annum. This fee decreases in percentage terms with the amount of investment volume (discount scale) and drops to just 0.323% (including VAT) for very large assets. See the table for this further down on this page. Your assets are always managed according to a clear investment strategy.
The following is a non-binding fee indication. The percentage fees in the table below refer to the assets we manage. They are expressed as an annual fee (per annum). A quarter of this percentage fee will be billed at the end of each calendar quarter.
The values in the columns “AUM fee p.a. cumulative (incl. VAT)” and “AUM fee p.a. cumulative (excl. VAT)” are commercially rounded and result from the fee in relation to the individual tranches.
If several members of a family take out a mandate with us, we grant each family member a discount of 10% on the asset management fee calculated in accordance with our discount scale. This results in an additional cost advantage for all family members involved.
Abbreviations: “AUM” = Assets under Management = the assets we manage; Fee = fee
The minimum investment amount is currently one million euros.
When comparing the remuneration of banks and independent asset managers, please note that almost all of them quote exclusive of VAT in order to appear cheaper than they actually are. Furthermore, these service providers often incur additional fee components that are often difficult to recognize for customers, so that the actual total costs (all-in costs) are higher than the costs recognized by the investor. Examples of other asset management costs include: Performance fees, higher ongoing product costs (some with refunds), higher transaction costs or custody fees. A cost burden that is particularly difficult to recognize from the outside results from the so-called bid-ask spreads, which, when calculated in euros, are high when there is a lot of back and forth trading. This does not happen with our asset management because our investment decisions are based on a long-term investment strategy.
Ultimately, taxes are also costs. We reduce the effective tax burden in our client portfolios through a systematic buy-and-hold approach (see explanation here) and, especially in the equities sector, by focusing on investment funds (ETFs) with legal domicile in Ireland, which can reduce the withholding tax burden on dividends.
No. Gerd Kommer Invest does not accept any commissions, commissions or refunds from product providers.
We do not use any in-house products and are exclusively supplied via one Assets under management fee (AuM fee) paid directly by our clients. This compensation model avoids conflicts of interest and ensures that investment decisions are made exclusively in the interests of the clients.
Yes. The administration fee follows one degressive discount scale.
It starts at 0.900% p.a. (including VAT) for an investment volume of 1 million euros and decreases as assets increase - down to around 0.323% for very large volumes. Family members can pool their portfolios to calculate fees. Thanks to this bundled volume, everyone involved benefits more quickly from lower fee rates.
Gerd Kommer Invest We deliberately avoid performance-related remuneration, as performance fees often lead to higher overall costs in the long term and can create problematic incentives. Such fees sometimes motivate asset managers to take unnecessary risks in order to achieve short-term success.
Instead, clients only pay us transparently Assets under management fee (AuM fee) away 0.3% p.a. a. This means that costs remain predictable, understandable and fair.
