Schedule of Fees

Local Stockbroking
NomineeNon-Nominee
BondsOn the first €100k0.30%0.40%
On the excess of €100k0.20%
SharesOn the first €50k1.00%1.25%
On the next €50k0.75%
On the excess of €100k0.50%
Malta Government Treasury Bills0.10%0.15%
A minimum fee of €15 per transaction applies.
Malta Stock Exchange additional transaction fees: €4.5 / $4 / £3 per transaction.
Other related bank charges incurred on foreign currency transactions may also apply.

 

International Stockbroking
Bonds, Shares and Exchange Traded Funds1.25% per trade
A minimum fee of €58 (or the equivalent in foreign currency) per transaction applies.
Charges in relation to transaction stamps or other similar charges may also be applicable to certain Stock Exchanges no charge is applicable if a bond is held to maturity.

 

Collective Investment Schemes / Funds
Buying2.00%
SellingNIL
A minimum fee of €50 applies on each buying transactions.
Subject a maximum charge quoted on the funds’ key Investor Information Document (KIID).
Switching between Funds will incur 0.5% charge. This charge does not apply when switching to Merill Funds.

 

Discretionary Portfolio Fees
Fees in respect of monitoring and advice on portfolios1.00% per annum
Charged on the total value of assets, calculated pro-rata on a quarterly basis

 

Financial Intermediation Services Fee
Total Holdings less than €500k0.05% per annum
Total holdings more than €500k and less than €1M0.04% per annum
Total holdings more than €1M and less than €1.5M0.035% per annum
Total holdings more than €1.5M0.03% per annum
Fee is charged as a percentage of clients’ total assets per account, calculated quarterly on a pro rata basis.
Waived with respect to investments within sub-funds of Merill SICAV plc, 62+ Government Savings Bonds & MAPFRE MSV products.
A minimum charge of €25 and a maximum charge of €800 is applicable per account.

 

Miscellaneous Charges
Onboarding fee (first meeting)€50
Refunded upon first investment executed within 30 days.
Transaction Fee for New Bond & Share Issue Applications
 – Nominee applicationsNIL
 – Non-nominee applications€15 per application
Valuation and Summary of Income Statements – sent quarterly
 – By emailNIL
 – By PostNIL
 – Request for additional Income and Valuation statements€10 per request
Processing of interest & dividend payments
 – Local Bonds & SharesNIL
 – Foreign Bonds & Shares€5 per interest payment
 – Processing of non-Euro fund interest payments to non-Bank of Valletta bank accounts€8 per interest payment
Any distribution of income and dividends by cheque€2.50 per interest payment
Re-issuing of lost cheque€20
Pledging of holdings€15 per holding
A maximum fee of €100 applies
Death of a shareholder (transfer of holdings)€10 per holding
A minimum fee of €150 applies
Transfer of holdings to another Broker€120 per holding
MSE transfer of ownership of holdings
 – Up to 3 holdings€25 per holding
 – For each additional holding, after the first 3, capped at €300€15 per holding
Other disbursements incurred by a third party may also apply.
Withholding tax certificate – issued on request€20
Currency ConversionAs per official rate provided by BOV
A preferential rate may be obtained, which can be retained by the company at its discretion.

 

Other
The company may also receive commission / income from issuers of Initial Public Offerings (IPOs).
Hold mail for client collection€50 per year

 

Fees quoted are exclusive of VAT where applicable.

 

Version: January 2019