Annual Fees and Bank Charges
The majority of ENR’s managed accounts in Europe are based in Vienna, Austria for trustee and safe-keeping purposes. Valartis Bank Austria AG is the hub for ENR’s private client assets since 1997.
Each managed account requires a credible financial institution to safeguard and trade global securities on that client's behalf. All securities are held in the client's name or vis-à-vis a company, trust or foundation and are kept in-trust for safekeeping purposes via a European private bank. ENR can also suggest several established and highly regulated banks in Denmark and Switzerland offering very competitive fees.
| Assets, USDs | ENR | Valartis Bank Austria |
|---|---|---|
| ‹ $1 million | 1.00% | 0.50% |
ENR Asset Management, Inc. charges a sub-advisor fee only once per annum on the 12th month anniversary of the portfolio's inception. This rate ranges between a maximum 1% (under $1 million in assets) to a minimum of 0.75% per annum on assets over $1 million dollars.
Maximum annual total expenses for operating a European-based managed account are 1.50%. For assets more than $1 million dollars, this expense ratio declines to a maximum 1.25%. Trading fees or commissions are supplemental.
Clients receive a quarterly or monthly portfolio statement from a European private bank where the assets are administered (for privacy reasons, clients can waive receiving account information). In addition, Mr. Roseman faxes monthly, unaudited client reports accompanied by a monthly commentary on portfolio performance, no later than the 30th day following the month under review.
THE ENCLOSED DOCUMENTS SHOULD BE CAREFULLY REVIEWED BY PROSPECTIVE INVESTORS. THE FOLLOWING INFORMATION IS NOT AN OFFER TO PURCHASE OR SELL ANY SECURITIES. IT IS A PRESENTATION ONLY. REGISTERED AS AN INVESTMENT ADVISER WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION.
