Fee cap on Allium fund

Allium, which specialises in creating and distributing retail financial products, says the fund would have a very low base fee and a performance-related fee which applies when clients make money at a certain level above cash but which does not allow the fund’s total cost to exceed the market average at any point regardless of how well the fund performs.

Managing director Ronan Kearney says: “The investor has the perfect situation. In markets where they have not made money or made less than they expected, they get a very efficient fund and in markets where they have made money, they are still not paying any more than the market average.”