The Intelligent Investor funds all have the same management fee of 0.97%pa. Only the Intelligent Investor Select Value Share Fund (ASX:IISV) has a performance fee. The performance fee is 15% of the outperformance percentage. The Fund has two benchmarks it needs to beat before the fee can be charged. Those benchmarks are the ASX/S&P 200 Accumulation Index and the RBA cash rate. There is also a highwater mark in place.