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See every layer.
No approved pricing exists. The following describes cost categories, not an offer or quote.
Underlying fund
Management charges and carried interest depend on the underlying fund and share class.
Feeder vehicle
Formation, administration, audit, legal and banking expenses may apply separately.
Platform services
A proposed sliding scale: 0.25% a year on the first HKD 1 million committed, 0.20% on the portion from HKD 1 million to 5 million and 0.15% on any portion above HKD 5 million. Each portion pays only its own rate, so committing more never costs less in total. Basis, timing, offsets and commercial viability remain unresolved; this is not an available fee schedule.
FX and other costs
Source-currency conversion, spreads, custody and tax may create additional costs. HKD display does not remove FX exposure.
The proposed sliding scale at a glance
Platform service fee only, for one complete year charged on the full committed amount with no offsets.
| Commitment | Annual platform fee | Effective rate |
|---|---|---|
| HKD 100,000 | HKD 250 | 0.25% |
| HKD 500,000 | HKD 1,250 | 0.25% |
| HKD 1,000,000 | HKD 2,500 | 0.25% |
| HKD 2,500,000 | HKD 5,500 | 0.22% |
| HKD 5,000,000 | HKD 10,500 | 0.21% |
| HKD 10,000,000 | HKD 18,000 | 0.18% |
| HKD 25,000,000 | HKD 40,500 | 0.162% |
| HKD 50,000,000 | HKD 78,000 | 0.156% |
This is not an all-in cost or a quote. It excludes underlying management fees and carry, feeder setup and recurring expenses, banking, FX and tax. Charging on NAV or paid-in capital would produce different amounts. Basis, timing and approved terms remain unresolved.
Before a real decision
An approved fee disclosure would need each charge’s rate or amount, calculation base, frequency, payer, duration, offsets and approval date. It would distinguish one-time costs from recurring fees and performance-dependent carry, and disclose any manager-paid remuneration and conflicts.
The provisional HKD 100,000 target is a commitment size, not a fee, an available minimum or evidence of professional-investor eligibility. A commitment is not the same as cash paid in.
Interactive fictional cost illustration
See what the assumptions change.
These common assumptions are used across the fictional fact sheets for comparison. They are not actual fund terms, an available fee schedule or a forecast. One complete year is modelled with no offsets, discounts, amortisation, compounding or intra-year timing adjustments.
HKD 100,000 · whole HKD from HKD 100,000 to HKD 50,000,000.
| Commitment tier | Annual rate | Portion in tier | Annual platform fee |
|---|---|---|---|
| Up to HKD 1,000,000 | 0.25% | HKD 100,000 | HKD 250 |
| HKD 1,000,000 to HKD 5,000,000 | 0.20% | HKD 0 | HKD 0 |
| Above HKD 5,000,000 | 0.15% | HKD 0 | HKD 0 |
| Total | 0.25% effective | HKD 100,000 | HKD 250 |
Assumed paid-in amount: HKD 50,000. Commitment is a future capital obligation, not cash received or fee-bearing NAV. No NAV or investment return is assumed.
| Cost layer | Rate / allocation | Calculation base | Timing | Illustrative amount |
|---|---|---|---|---|
| Underlying management fee | 2.00% | Full commitment | Annual | HKD 2,000 |
| Underlying carried interest | 20% illustrative carry | Eligible profits under a waterfall; no profit or hurdle modelled | Performance-dependent | Not modelled |
| Feeder establishment allocation | Fixed illustrative allocation | Per investor; not total feeder formation costs | One-time | HKD 500 |
| Feeder administration | 0.20% | Full commitment | Annual | HKD 200 |
| Feeder audit and legal | 0.15% | Full commitment | Annual | HKD 150 |
| Platform service fee | Proposed sliding scale: 0.25% effective | Full commitment | Annual | HKD 250 |
| FX conversion cost | 0.35% | Assumed paid-in amount converted once, measured in HKD | One-time | HKD 175 |
| Other: banking and custody | Fixed illustrative allocation | Per investor, one full year | Annual | HKD 100 |
| Tax and unmodelled expenses | Not quantified | Investor/vehicle-specific taxes, exceptional costs and any placement remuneration are unresolved | Unquantified | Not modelled |
Modelled recurring costs, one full year: HKD 2,700
Modelled one-time costs: HKD 675
Illustrative first-year modelled subtotal: HKD 3,375
This is not an all-in quote. Carry, tax and unquantified expenses are excluded, not zero. We do not add incompatible rates into one percentage. The subtotal adds HKD amounts for this specific first-year scenario only; it is not an annual fee rate. Conversion cost is not an exchange rate or hedging promise. Actual allocations, bases, duration and any remuneration/conflicts require documented terms and review.