I have been quoted a Bank Custody Fee of approx. €3,000 spread over 5 years as part of the incidental expenses involved in applying for a GV. Is this usual ?
I have read a post where it was mentioned that banks have deducted a fee from the income distributed by the fund.
But do banks also charge for holding the non-tradable Units of GV funds ?
Yes, mine — Atlantico Europa — does. I presume the fee is based on the quarterly reported value of the assets.
Yes, mine (Bison Bank) does. From memory started out c. €100 a quarter, but my initial investment was made 5 years ago under older GV capital requirements of €350k. If your custody fees are based on NAV and your investment is 500k, €3,000 over 5 years sounds about right, but as noted above you should expect it to adjust on quarterly reporting.