# How does a fund administrator calculate crypto fund fees?

Agio calculates management and performance fees in each NAV run from the rates in the fund's terms and posts them as accruals in the fund's ledger. Agio Fund Services Ltd. in Nassau is licensed by the Securities Commission of The Bahamas (SCB) as an Unrestricted investment fund administrator under the Investment Funds Act, 2019.

## How is the management fee accrued?

The management fee is an annual rate applied to the basis in the fund's terms, either NAV or gross asset value, and can be tiered. A fund with a monthly NAV accrues one twelfth of the annual rate each month. A fund with a daily or weekly NAV accrues on an actual/365 day count.

## What does a simple example look like?

Illustrative example only: a fund with a monthly NAV of 10,000,000 and a 2% annual management fee accrues 10,000,000 × 2% ÷ 12 = 16,666.67 for the month. Actual fees depend on the fund's terms, classes and dealing.

## How is the performance fee calculated?

The performance fee is calculated per investor holding against a high-water mark, with a hurdle when the fund terms set one. It crystallizes at the frequency in the fund terms, and a redemption crystallizes the fee on the redeemed shares.

## Who is responsible for what?

The fund documents set the rates and terms. Agio calculates and records the fees, and the fund manager approves the NAV that carries them. The period reporting package shows the fee accruals for the auditor.

[Audit support records](https://www.agiodigital.com/answers/digital-asset-fund-audit-support)

## Sources and related reading

- [SCB investment fund administrator licensees, 30 September 2026](https://scb.gov.bs/wp-content/uploads/2026/10/IFA-Admins-as-at-30-September-2026.pdf)

- [SCB: investment funds](https://www.scb.gov.bs/investment-funds)

## Discuss your circumstances

[Fund licensing and administration](https://www.agiodigital.com/services/fund-licensing)

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