# Fee When the portfolio shares are minted, the manager can set up the fees. All the fees will be automatically calculated and collected by the smart contract. Once set, it cannot be changed during the duration of the product. The fee type and calculation method are as follows. **1.4.1 Issuance fee** ➢ The fee charged when minting shares. ➢ The protocol will charge the fee according to the size of minted shares and the fee rate set by the pool manager (0≤fee rate≤10%). ➢ Issuance fee=Issuance fee rate\*Size of issuing shares **1.4.2 Redemption Fee** ➢ Redemption fee is charged at the time of redemption (open-end) or liquidation of the pool (close-end). ➢ The protocol will charge the fee according to the fee rate set by the pool manager (0≤fee rate≤10%) and then according to the size of shares at the time of redemption or liquidation. ➢ Redemption fee = redemption rate \* redemption/liquidation of size of shares **1.4.3 Management Fee** ➢ The management fee is charged daily according to the size of assets, and the pool manager withdraws it into his wallet according to his own needs. ➢The protocol charges it at a fee rate set by the pool manager (0≤ rate ≤10%) and calculated based on the size of the asset of the snapshot of the day when the pool withdraws the fees, averaged to the daily. ➢ Management fee (day)=management fee rate\* size of asset at the end of the day\*/365 ( the day: when the pool withdraws the fees) **1.4.4 Performance fee** ➢ Performance fees are generally found in closed-end products, set up to motivate pool managers, and are generally collected at liquidation. ➢ Performance fee is to distribute the profits of pool management. The pool manager can agree with investors through a protocol on the performance fee rate, which will be charged according to the profits at the time of liquidation. ➢Performance fee = profit of asset management products \* performance fee rate --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.desyn.io/mechanism/product-introduction/fee.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.