Page 92 - BES2016_ING

Individual Pension System 2016 Progress Report

2.8 Management Fees of
Pension Mutual Funds and State Contribution Funds

Maximum Daily and Annual Management Fee Ratios according to Fund Groups

Group Funds Maximum daily Maximum annual
fund total fee ratio fund total fee ratio
I Money Market Funds / Precious Metals
(0.000%) (%)

3.00 1.090

Liquid Fund-Gov’t, Liquid Fund-Private Sector, Liquid Fund-Mixed,
Precious Metals Fund, Gold Fund, other funds etc.

II Government / Private Sector / International Bonds Funds/ 5.25 1.910
Index Funds

Gov’t Bonds Fund, Private Sector Bonds Fund,
Mixes Bonds Fund, International Bonds Fund,
Index Fund, Balanced Fund,
other funds etc.

III Stocks / Other Funds 6.25 2.280
1.00 0.365
T.11 Stocks Funds, International Stocks Funds,
Small Companies Stock Funds, Foreign Country Funds, Sector Funds,
Flexible Fund, Mixed Fund, International Mıxed Fund, Fund Basket Funds,
other funds etc.

IV State Contribution Funds

Regulation on Making Amendments to the Regulation on Individual Pension System Regulation (The Official Gazette No: 29366) has decreased maximum daily
fund management fee limitations on Precious Metal funds from 0.00525% to 0.003% as of 01.

For expenses relative to fund, included management fee, maximum ratios are shown on the table.

Monthly Development of Average Daily Fund Management Fee Ratios
according to Fund Groups

Gov't Bonds and Bills (TL) Liquid Flexible Stock
Precious Metal
Gov't Bonds and Bills (FX) International Standard

State Contribution Individual Pension System

7.5

G.34 7.0

Daily Fund Management Fee Ratio (0.000%)6.5
31.01.2011
30.04.20116.0
31.07.2011
31.10.20115.5
31.01.2012
30.04.20125.0
31.07.2012
31.10.20124.5
31.01.2013
30.04.20134.0
31.07.2013
31.10.20133.5
31.01.2014
30.04.20143.0
31.07.2014
31.10.20142.5
31.01.2015
30.04.20152.0
31.07.2015
30.10.20151.5
31.01.2016
30.04.20161.0
31.07.2016
31.10.20160.5

31.12.20160.0

Fund management fee ratios are calculated by weighting with net asset value of funds. This report
disregards bonus implementations related to fund management fees, included in certain pension schemes.
Change of monthly averages for fund management fees on fund groups and founder basis by years can be
found at the following address: http://www.egm.org.tr/bes2016gr/bes2016_figk.pdf

Pension Mutual Funds and State Contribution Funds 90