Infrastructure expenses

Infrastructure expenses of mutual funds/ETFs are periodic payments, in most cases calculated as a percentage of the net asset value (average annual NAV), which are made at the expense of the fund's property and include the Provider’s annual reward, payments for depository and registrar, stock exchange, external auditor, appraiser services, taxes (occasionally) and other expenses. The maximum value of infrastructure expenses is fixed by the fund's rules. Along with the fund's profitability, infrastructure expenses are an important criterion for comparing the performance of funds’ providers.