Share class

A share class is a category of shares in a fund with its own terms, such as fee level, currency, minimum investment or liquidity, while investing in the same underlying portfolio. A fund can have several classes, each with its own NAV per share.

Classes let one fund serve different investors without separate vehicles: a USD class and a EUR class, an institutional class with lower fees and a higher minimum, a founders class for early investors. Each class accrues its own fees and expenses and so has its own NAV.

Classes are set out in the offering memorandum, and adding one usually requires a supplement rather than a new fund.

Why this matters for POD

A POD fund can have multiple share classes, each with its own NAV calculated daily by the administrator.

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Fees & Liquidity

Founders share class
A reduced-fee share class for investors who commit before a fund reaches a set size or date.
Fees & Liquidity
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Net asset value (NAV)
A fund's assets minus liabilities at a valuation point. Divided by shares in issue, it sets the dealing price.
Administration & NAV
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Offering memorandum (OM / PPM)
The legal disclosure document (OM or PPM) setting out a fund's strategy, terms, fees, risks and eligibility.
Fund Structure
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POD is regulated as a fund administrator by the Central Bank of Ireland and as a fund manager in the BVI. Nothing on this site constitutes an offer to sell, or a solicitation of an offer to buy, any security or interest in any fund. Investment involves risk, including the possible loss of capital. Past performance is not a reliable indicator of future results.