The adviser fee is separate, but overlayed, to Kernel’s underlying fund management fees.

Advisers can charge a fee of up to 0.50% in addition to our underlying annual fund management fee - for example, if our High Growth Fund’s annual management fee is 0.25%, the adviser fee is an additional 0.50% - the total fee that the customer would therefore pay is 0.75% (maximum).

The total fee charged therefore values according to the fund chosen, and the specific adviser firm’s advice fee. As the fund management fee depends on the fund/funds chosen, plus the adviser fee the firm would like to overlay.