The Silver Trust pays the Manager a monthly management fee equal to 1⁄12 of 0.45% of the value of net assets of the Silver Trust (determined in accordance with the trust agreement), plus any applicable Canadian taxes. The management fee is calculated and accrued daily and payable monthly in arrears on the last day of each month.
this sure looks like .5% a month and not per year as you say
actually, you are correct...its 1/12 of .45...as I said, I am NOT a basher and actually hold a significant position here.
The only danger in buying PSLV is when the premium gets too big. Downside is always the premium when they do a new issue so the trisk is to get the lowest premium to NAV as possible. Im in at a 4% premium to NAV, so ok.
Any folks out theer goldmoney clients?