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Is bid-offer spread deducted in the end after deducting all other appropriations like policy fee and allocation charges at the start of the year, or it is deducted immediately after allocating the premiums.
Bid/offer spread and allocation rates are applied to the original premium. eg if the allocation rate is 97% and the bid offer spread is 5%, this means that 97% * 95% of the premium is allocated to units. It doesn't matter which way round this happens, since 95 * 97 = 97 * 95
The annual management charge is a % applied the unit fund and this occurs at the end of each year,
Bid/offer spread and allocation rates are applied to the original premium. eg if the allocation rate is 97% and the bid offer spread is 5%, this means that 97% * 95% of the premium is allocated to units. It doesn't matter which way round this happens, since 95 * 97 = 97 * 95
The annual management charge is a % applied the unit fund and this occurs at the end of each year,
Alright, however if there is a policy fee (& not AMC) deducted at the start of every year, then it should be deducted after bid offer spread and if policy fee is deducted at the end of every year, it should be deducted after deducting AMC from the unit fund value. Correct?