On Euronis this represents a 0.25 per 100,000 increase from the original rate.
After the longer than normal draw down period suffered on the DOOR Fund at the end of 2012 and into the beginning 2013 the fund manager made a decision to temporarily lower the commission rate from 49 to 34 per million in an effort to aid a quicker recovery. In doing so the fund manager agreed to only increase the commission based on two set milestones:
- The first was a recovery of 50% of the draw down, this was achieved a few weeks back and the rate was pushed slightly higher to 37.50 per million.
- The second and final milestone was the complete recovery of the draw down and a new high water mark: we are extremely happy to report this has happened as of the close of today’s trading session.
As a result the commission rate has been moved to 40 per million as originally agreed to by the fund manager. Keep in mind even with the new HWM this rate still represents over a 20% discount on the original DOOR commission level of 49 per million.
No further increases are planned on either fund.