Annual management fee* 0,90%

* The management fee is calculated at the end of each quarter (31 March, 30 June, 30 September, and 31 December) based on the value of the managed portfolio. This fee is charged at the end of each quarter on a pro rata basis. 

  No transaction costs
At MeDirect you do not pay any transaction costs, nor any costs for (extra) deposits in your portfolio or for the complete or partial withdrawal of money from your portfolio.

Taxes

The portfolios MeDirect manages consist of accumulating funds that are subject to the standard Belgian tax regulations. MeDirect will do the necessary work and withhold all applicable taxes so you don’t have to take care of this.

Stock exchange tax
There is no tax due when purchasing accumulating funds. When selling accumulating funds there is a one-time stock exchange tax. This tax represents 1,32% of total sales price, but is limited to a maximum of EUR 4.000.

Capital gains tax
Capital gains tax only applies to the sale of:

  1. capitalisation funds and trackers which invest 10% or more in fixed-income investments such as bonds.
  2. distribution funds and trackers which invest 10% or more in fixed-income investments, and do not pay out 100% of their interest income.

In both cases a withholding tax (capital gains tax) of 30% is deducted from the capital gains resulting from these fixed-income securities.

There are 2 methods to calculate this tax:

  1. either the fund calculates the BE TIS value (Taxable Income per Share) and the TIS value is decreased on the day of the sale with the TIS value on the day when the fund is purchased.
  2. or the tax is calculated on the capital gains resulting from the fixed-income securities when the BE TIS value is unknown.

For example:

A capitalisation fund invests 40% in bonds and 60% in shares. The investor purchased the fund for EUR 100, and sells it for EUR 120.

The BE TIS value is known at the moment of purchase and sale. If the difference is positive, it is taxed at 30% withholding tax.

The fund does not calculate any BE TIS value. The realised capital gains is EUR 20. As the fund invested 40% in bonds, the tax is only calculated over 40%. 40% of EUR 20 is EUR 8. The tax is 30%, which means EUR 2.4 is deducted and the investor will receive EUR 5.6 net. The fund invests 60% in shares; 60% of EUR 20 is EUR 12, for which no capital gains tax is calculated. The investor will receive EUR 120 – EUR 2.4 (capital gains tax) = EUR 117.6 on selling the fund.