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OFEM070800 – EMT Typical One-off Exit Costs At RHP For Funds
Costs involved by redeeming a fund expressed in regard to the RHP ("OFEM050800 EMT Recommended Holding Period") or the time to maturity ("OFEM000650 EMT Maturity Date"). Typically, these costs should be 0 for holding periods longer than RHP. Following an example from the EMT regarding the typical costs:
Normal fees if the client holds the product until maturity or during RHP. A product with a 5 year maturity has exit costs of: - 4% after 1 and 2yrs - 3% after 3yrs - 1% after 4 yrs, - 0 at maturity
Then maximum exit cost: 4% Typical cost : 0
// The correspondent MiFID II field introduced by the European Working Group with their MiFID Data Dictionary Template (EMT) is: EMT: 07080_One-off_costs_Financial_Instrument_Typical_exit_cost. This is an Optional EMT field.//
| Property | Value |
|---|---|
| OF-ID | OFEM070800 |
| Name | EMT Typical One-off Exit Costs At RHP For Funds |
| Area | European MiFID Template (EMT) |
| Level | Share Class |
| Format | Decimal number |
| Tags | EMT |
| Introduced in | openfunds 1.26 |
| FinDatEx EMT field | 07080_One |
Values
Percentage described as a decimal figure, rounded to maximal 7 digits after the decimal point.
Example
0.0025 (instead of 0.25%)
FundsXML 4 mapping
FundsXML EMT block:
RegulatoryReportings/…/FinancialInstrument/CostsAndChargesExAnte/Fund/TypicalExitCost
The field mapping table lists every field; openfunds to FundsXML explains the rules behind it.
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