SS&C Hubwise - Schedule of Charges

Custody Charge

The Individual (Retail) Client Annual Platform Charge is detailed within your Terms and Conditions (T&Cs) which represents your Custody Agreement with Hubwise. For Corporate & Institutional Clients the Annual Platform Charge will also be detailed within the T&Cs, together with any tiering criteria relating to portfolio size.

This Platform Charge is a basis points (bps) charge applied per account type (wrapper) per year; it is applicable to all holdings and cash and is collected each month. The Platform Charge (bps) may be capped for some account types, however where it is, under the terms of your Platform Service, this cap will only apply for domestic holdings and both the cap and the Platform Charge (bps) may be increased if the number of holdings in a client portfolio materially exceeds 20, or there are individual accounts valued above £1,000,000.

Interest – Hubwise has rules concerning Client Money and where it can and cannot be invested. Our number one concern is that our Clients' money is always protected, and we will seek to avoid following high interest rates if that puts the underlying deposit at any risk, in our opinion. Client Money deposits are placed with a range of top-quality banks and with differing term periods, from overnight to three months. In the event that Hubwise cannot recover any loss of assets resulting from sub-custodian failure, you may be eligible to some compensation under the Financial Services Compensation Scheme.

Net income earned on these deposits is paid to our Clients in full every six months, calculated as a blended rate across the accounts being used. Please note that in extreme circumstances interest rates may be negative and/or bank charges may exceed interest earned and be deducted from the deposits.

Please refer to the following sections for any supplemental Charges: (1) Product Charges where investments are held in a Hubwise SIPP and/or Hubwise Offshore Bond; (2) For exchange-traded securities, and to cover the manual trading of any funds; (3) For exceptional processing activities.

Product Charges

¹ An additional charge of £125 plus VAT applies to Clients within drawdown. The annual drawdown fee is payable whenever a payment is made in the drawdown year (the 12 month period following the date of the crystallisation event). For example, where a payment is made of either PCLS or income then the fee is due but if in the following benefit year no further payment of either PCLS or income is taken the fee will not become payable. There is no charge for transfers-in and the charge for transfers out will not exceed the previous year’s charge. The SS&C Hubwise SIPP is provided and operated by Hubwise Securities Limited, a company authorised and regulated by the Financial Conduct Authority (FRN: 502619) and registered in England and Wales 06071374

² The Offshore Bond has a tiered rate subject to a £250 minimum annual charge with a 20bps charge on the first £500,000, a 10bps charge on the next £500,000 and a flat 5bps charge on all holdings above £1,000,000.

International Custody and Trading Services

UK Trading & Settlement Charges

¹ Most trades in UK listed assets (equities, ETFs, bonds, investment trusts) are automatically executed through market makers known as Retail Service Providers (RSPs), with no additional Charges applicable. Where a trade cannot be executed through the RSP network, the trade will be executed through our relationship with an institutional DMA broker, with additional Charges applicable.

² Covers the settlement of UK listed assets through direct membership in CREST.

International Trading & Settlement Charges

¹ Trade execution will be subject to a minimum charge per trade of £7 in the main markets. Additional execution and custody charges may be applicable depending on the market(s) required.

Administration Charges

¹ Transfer-out charges will be applicable for any instruments which are not eligible for electronic transfer, and therefore require manual intervention to process.

² Any rebranding style work done to implement additional instances of brand styling (e.g. for different business entities) will be charged at a daily rate of £1000 per day.

Market Infrastructure Charges

For trades in exchange-traded (listed) securities, there will be additional market infrastructure Charges applicable.

France and Italy have local tax on certain type of trades. Hong Kong, Singapore and South Africa also have complex additional Charges applicable. The UK and Ireland have stamp duty and PTM levy collected on all purchases. The rates are currently as set out below, but may change from time to time and Hubwise reserves the right to pass on any such revised rate:

• UK stamp duty is applicable on purchases at rate of 0.5%.
• Irish stamp duty is applicable on purchases at a rate of 1%.
• PTM is applicable on UK exchange trades over £10,000 and is a flat fee of £1.
• ITP is applicable on Irish exchange trades over €12,500 and is a flat fee of €1.25.
• French local tax of 0.3% is applicable on purchases where the market capitalisation of the French company being purchased is greater than €1,000,000.
• Italian local tax of 0.1% is applicable on purchases where the market capitalisation of the Italian company being purchased is greater than €500,000 and traded on a regulated market or multi-lateral trading facility.
• Hong Kong stock exchange fee of 0.005% is applied to all trades (buys and sells).
• Hong Kong transaction levy of 0.00285% is applied to all trades (buys and sells).
• Hong Kong stamp duty is applied to purchases at 0.1%.
• Singapore stock exchange clearing fee of 0.0325% is applied to all trades (buys and sells), subject to a maximum of SGD600.
• South Africa stock exchange charge of 0.005459% is applied to all trades (buys and sells) subject to a minimum of R10.92 and a maximum of R54.59.
• South African security transfer tax of 0.25% is applied to all purchases.
• South Africa Financial Service Board charge is applied to all trades (buys and sells) at 0.0002%.

Indexation of fixed sums and rates

Effective from the 1st January of each calendar year of this Agreement, Hubwise shall be entitled to increase the Charges and the rates of charging set out in Schedule 3 (Charges) of this Agreement by such percentage as is equal to the annual percentage increase in the ‘All Items Retail Price Index’ published in November of the preceding calendar year. For the avoidance of doubt, this provision does not apply to the Platform Charge or any other charges that are calculated by reference to the value of assets under custody or administration.