1 GENERAL
(continued)
1.2 Asset management fees
(continued)
The asset management fees comprise:
(a) in respect of Authorised Investments which are in the form of real estate, a base
component of 0.25% per annum of Deposited Property and a performance
component of 2.85% per annum of gross revenue of the Trust for each financial year;
and
(b) in respect of all other Authorised Investments which are not in the form of real estate,
0.5% per annum of the investment value of the Authorised Investment, unless such
Authorised Investment is an interest in a property fund (either a real estate investment
trust or private property fund) wholly managed by a wholly-owned subsidiary of
CapitaLand Limited, in which case no asset management fee shall be payable in
relation to such Authorised Investment.
In respect of all Authorised Investments which are in the form of real estate acquired by
the Trust:
(a) the base component shall be paid to the Manager in the form of cash and/or Units (as
the Manager may elect); and
(b) the performance component shall be paid to the Manager in the form of cash, in the
form of Units or a combination of both (as the Manager may elect).
When paid in the form of Units, the Manager shall be entitled to receive such number of
Units as may be purchased for the relevant amount of the asset management fee at the
market price (as defined in the Trust Deed). The asset management fees are payable
quarterly in arrears.
The Manager is also entitled to receive acquisition fee at the rate of 1.0% of the purchase
price and a divestment fee of 0.5% of the sale price on all future acquisitions or disposals
of properties or investments.
1.3 Trustee’s fees
Pursuant to the Trust Deed, the Trustee’s fees shall not exceed 0.10% per annum of the
Deposited Property (subject to a minimum sum of $6,000 per month) payable out of the
Deposited Property of the Trust. The Trustee is also entitled to reimbursement of expenses
incurred in the performance of its duties under the Trust Deed.
The Trustee’s fees are payable quarterly in arrears.
Notes to the Financial Statements
Year ended 31 December 2014
148 | CapitaMall Trust Annual Report 2014
