diff --git a/README.md b/README.md
index 8e3f4b0..d08d272 100644
--- a/README.md
+++ b/README.md
@@ -120,14 +120,14 @@ open tarpaulin-report.html
 ```
 || Uncovered Lines:
 || contracts/fiberrouter-base/src/contract.rs: 48
-|| contracts/fundmanager-base/src/contract.rs: 623, 662
+|| contracts/fundmanager-base/src/contract.rs: 659, 698
 || Tested/Total Lines:
-|| contracts/fiberrouter-base/src/contract.rs: 91/92 +20.65%
-|| contracts/fundmanager-base/src/contract.rs: 337/339 +0.00%
+|| contracts/fiberrouter-base/src/contract.rs: 91/92 +0.00%
+|| contracts/fundmanager-base/src/contract.rs: 356/358 +0.03%
 || packages/fiberrouter/src/event.rs: 8/8 +0.00%
-|| packages/fundmanager/src/event.rs: 55/55 +0.00%
+|| packages/fundmanager/src/event.rs: 59/59 +0.00%
 || packages/fundmanager/src/helpers.rs: 9/9 +0.00%
 || packages/fundmanager/src/query.rs: 5/5 +0.00%
 ||
-99.41% coverage, 505/508 lines covered, +3.74% change in coverage
+99.44% coverage, 528/531 lines covered, +0.03% change in coverage
 ```
diff --git a/contracts/fundmanager-base/src/contract.rs b/contracts/fundmanager-base/src/contract.rs
index 73f88c0..75c5a71 100644
--- a/contracts/fundmanager-base/src/contract.rs
+++ b/contracts/fundmanager-base/src/contract.rs
@@ -7,13 +7,15 @@ use cosmwasm_std::{
 use fundmanager::{
     AddFoundryAssetEvent, AddLiquidityEvent, AddSignerEvent, BridgeSwapEvent,
     BridgeWithdrawSignedEvent, Fee, FundManagerExecuteMsg, FundManagerQueryMsg, Liquidity,
-    MigrateMsg, RemoveFoundryAssetEvent, RemoveLiquidityEvent, RemoveSignerEvent, SetFeeEvent,
-    TransferOwnershipEvent, WithdrawSignMessage,
+    MigrateMsg, RemoveFoundryAssetEvent, RemoveLiquidityEvent, RemoveSignerEvent,
+    SetFeeCollectorEvent, SetFeeEvent, TransferOwnershipEvent, WithdrawSignMessage,
 };
 
 use crate::error::ContractError;
 use crate::msg::InstantiateMsg;
-use crate::state::{FEE, FOUNDRY_ASSETS, LIQUIDITIES, OWNER, SIGNERS, USED_MESSAGES};
+use crate::state::{
+    FEE, FEE_COLLECTOR, FOUNDRY_ASSETS, LIQUIDITIES, OWNER, SIGNERS, USED_MESSAGES,
+};
 use cw_storage_plus::Bound;
 use cw_utils::Event;
 use regex::Regex;
@@ -29,6 +31,8 @@ pub fn instantiate(
 ) -> StdResult<Response> {
     let owner = deps.api.addr_validate(&msg.owner)?;
     OWNER.save(deps.storage, &owner)?;
+    let fee_collector = deps.api.addr_validate(&msg.fee_collector)?;
+    FEE_COLLECTOR.save(deps.storage, &fee_collector)?;
     Ok(Response::default())
 }
 
@@ -51,6 +55,9 @@ pub fn execute(
         FundManagerExecuteMsg::TransferOwnership { new_owner } => {
             execute_ownership_transfer(env, new_owner)
         }
+        FundManagerExecuteMsg::SetFeeCollector { collector } => {
+            execute_set_fee_collector(env, collector)
+        }
         FundManagerExecuteMsg::SetFee { token, fee } => execute_set_fee(env, token, fee),
         FundManagerExecuteMsg::AddSigner { signer } => execute_add_signer(env, signer),
         FundManagerExecuteMsg::RemoveSigner { signer } => execute_remove_signer(env, signer),
@@ -99,6 +106,29 @@ pub fn execute_ownership_transfer(
     Ok(rsp)
 }
 
+pub fn execute_set_fee_collector(
+    env: ExecuteEnv,
+    collector: String,
+) -> Result<Response, ContractError> {
+    let ExecuteEnv { deps, env: _, info } = env;
+    let collector_addr = deps.api.addr_validate(&collector)?;
+
+    if info.sender != OWNER.load(deps.storage)? {
+        return Err(ContractError::Unauthorized {});
+    }
+
+    let mut rsp = Response::default();
+    FEE_COLLECTOR.save(deps.storage, &collector_addr)?;
+
+    let event = SetFeeCollectorEvent {
+        from: info.sender.as_str(),
+        collector: collector.as_str(),
+    };
+    event.add_attributes(&mut rsp);
+
+    Ok(rsp)
+}
+
 pub fn execute_set_fee(
     env: ExecuteEnv,
     token: String,
@@ -425,9 +455,9 @@ pub fn execute_swap(
     let fee_amount = amount * fee / fee_multiplier;
 
     if !fee_amount.is_zero() {
-        let owner = OWNER.load(deps.storage)?;
+        let fee_collector = FEE_COLLECTOR.load(deps.storage)?;
         let bank_send_msg = CosmosMsg::Bank(BankMsg::Send {
-            to_address: owner.to_string(),
+            to_address: fee_collector.to_string(),
             amount: coins(fee_amount.u128(), token.to_string()),
         });
         rsp = Response::new().add_message(bank_send_msg);
@@ -517,6 +547,7 @@ pub fn query(deps: Deps, _env: Env, msg: FundManagerQueryMsg) -> StdResult<Binar
             to_binary(&query_all_liquidity(deps, start_after, limit)?)
         }
         FundManagerQueryMsg::Owner {} => to_binary(&query_owner(deps)?),
+        FundManagerQueryMsg::FeeCollector {} => to_binary(&query_fee_collector(deps)?),
         FundManagerQueryMsg::Signers { start_after, limit } => {
             to_binary(&query_signers(deps, start_after, limit)?)
         }
@@ -532,6 +563,11 @@ pub fn query_owner(deps: Deps) -> StdResult<String> {
     Ok(owner.to_string())
 }
 
+pub fn query_fee_collector(deps: Deps) -> StdResult<String> {
+    let owner = FEE_COLLECTOR.load(deps.storage)?;
+    Ok(owner.to_string())
+}
+
 pub fn query_fee(deps: Deps, token: String) -> StdResult<Fee> {
     let fee = FEE.load(deps.storage, token.as_str())?;
     Ok(Fee {
@@ -693,9 +729,10 @@ mod test {
         add_used_message, ethereum_address_raw, execute, execute_add_foundry_asset,
         execute_add_liquidity, execute_add_signer, execute_ownership_transfer,
         execute_remove_foundry_asset, execute_remove_liquidity, execute_remove_signer,
-        execute_set_fee, execute_swap, execute_withdraw_signed, get_signer, instantiate,
-        is_foundry_asset, is_used_message, migrate, query, query_all_liquidity, query_fee,
-        query_liquidity, query_owner, query_signers, read_foundry_assets, read_signers, ExecuteEnv,
+        execute_set_fee, execute_set_fee_collector, execute_swap, execute_withdraw_signed,
+        get_signer, instantiate, is_foundry_asset, is_used_message, migrate, query,
+        query_all_liquidity, query_fee, query_fee_collector, query_liquidity, query_owner,
+        query_signers, read_foundry_assets, read_signers, ExecuteEnv,
     };
 
     use cosmwasm_std::testing::{
@@ -743,6 +780,7 @@ mod test {
         let info = mock_info(deployer, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -759,6 +797,7 @@ mod test {
         let mut deps = mock_dependencies();
         let msg = InstantiateMsg {
             owner: "cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym".to_string(),
+            fee_collector: "cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym".to_string(),
         };
         let env = mock_env();
         let info = mock_info("cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym", &[]);
@@ -786,6 +825,7 @@ mod test {
         let mut deps = mock_dependencies();
         let msg = InstantiateMsg {
             owner: "cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym".to_string(),
+            fee_collector: "cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym".to_string(),
         };
         let env = mock_env();
         let info = mock_info("cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym", &[]);
@@ -826,6 +866,7 @@ mod test {
         let mut deps = mock_dependencies();
         let msg = InstantiateMsg {
             owner: "cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym".to_string(),
+            fee_collector: "cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym".to_string(),
         };
         let env = mock_env();
         let info = mock_info("cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym", &[]);
@@ -855,6 +896,7 @@ mod test {
         let mut deps = mock_dependencies();
         let msg = InstantiateMsg {
             owner: "cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym".to_string(),
+            fee_collector: "cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym".to_string(),
         };
         let env = mock_env();
         let info = mock_info("cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym", &[]);
@@ -945,6 +987,7 @@ mod test {
         let mut deps = mock_dependencies();
         let msg = InstantiateMsg {
             owner: "cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym".to_string(),
+            fee_collector: "cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym".to_string(),
         };
         let env = mock_env();
         let info = mock_info("cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym", &[]);
@@ -968,6 +1011,7 @@ mod test {
         let info = mock_info(first_owner, &[]);
         let msg = InstantiateMsg {
             owner: first_owner.to_string(),
+            fee_collector: first_owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1005,6 +1049,7 @@ mod test {
         let info = mock_info(first_owner, &[]);
         let msg = InstantiateMsg {
             owner: first_owner.to_string(),
+            fee_collector: first_owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1024,6 +1069,72 @@ mod test {
         );
     }
 
+    #[test]
+    fn test_execute_set_fee_collector() {
+        let owner = "address_to_be_owner";
+        let collector = "address_to_be_collector";
+        let mut deps = mock_dependencies();
+        let env = mock_env();
+        let info = mock_info(owner, &[]);
+        let msg = InstantiateMsg {
+            owner: owner.to_string(),
+            fee_collector: owner.to_string(),
+        };
+
+        let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
+        assert_eq!(res.is_err(), false);
+
+        /////////////////////////////////////////////////////////////
+
+        let execute_env = ExecuteEnv {
+            deps: deps.as_mut(),
+            env: env.clone(),
+            info: info.clone(),
+        };
+
+        let rsp = execute_set_fee_collector(execute_env, collector.to_string()).unwrap();
+        assert_eq!(
+            rsp.attributes,
+            vec![
+                attr("action", "set_fee_collector".to_string()),
+                attr("collector", collector.to_string()),
+                attr("from", owner.to_string())
+            ]
+        );
+
+        let query_res = query_fee_collector(deps.as_ref()).unwrap();
+        assert_eq!(query_res, collector.to_string());
+    }
+
+    #[test]
+    fn test_execute_set_fee_collector_catch_err_unauthorized() {
+        let owner = "address_to_be_owner";
+        let collector = "address_to_be_collector";
+        let mut deps = mock_dependencies();
+        let env = mock_env();
+        let info = mock_info(owner, &[]);
+        let msg = InstantiateMsg {
+            owner: owner.to_string(),
+            fee_collector: owner.to_string(),
+        };
+
+        let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
+        assert_eq!(res.is_err(), false);
+
+        let execute_env = ExecuteEnv {
+            deps: deps.as_mut(),
+            env: env.clone(),
+            info: mock_info("other", &[]),
+        };
+
+        assert_eq!(
+            execute_set_fee_collector(execute_env, collector.to_string(),)
+                .unwrap_err()
+                .to_string(),
+            (ContractError::Unauthorized {}).to_string()
+        );
+    }
+
     #[test]
     fn test_execute_set_fee() {
         let owner = "address_to_be_owner";
@@ -1032,6 +1143,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1074,6 +1186,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1105,6 +1218,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1134,6 +1248,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1163,6 +1278,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1233,6 +1349,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1265,6 +1382,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1294,6 +1412,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1378,6 +1497,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1446,6 +1566,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1514,6 +1635,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1569,6 +1691,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1598,6 +1721,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1627,6 +1751,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1695,6 +1820,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1751,6 +1877,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1806,6 +1933,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1861,6 +1989,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1946,6 +2075,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -1982,6 +2112,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2034,6 +2165,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2101,6 +2233,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2132,6 +2265,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2188,6 +2322,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2244,6 +2379,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2300,6 +2436,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2389,6 +2526,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2468,6 +2606,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2547,6 +2686,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2617,6 +2757,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2676,6 +2817,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2758,6 +2900,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2875,6 +3018,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2933,6 +3077,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -2985,6 +3130,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
@@ -3034,6 +3180,25 @@ mod test {
             ]
         );
 
+        let collector = "address_to_be_collector_2";
+        let rsp = execute(
+            deps.as_mut(),
+            env.clone(),
+            info.clone(),
+            FundManagerExecuteMsg::SetFeeCollector {
+                collector: collector.to_string(),
+            },
+        )
+        .unwrap();
+        assert_eq!(
+            rsp.attributes,
+            vec![
+                attr("action", "set_fee_collector".to_string()),
+                attr("collector", collector.to_string()),
+                attr("from", owner.to_string())
+            ]
+        );
+
         let query_res = query_fee(deps.as_ref(), "token_address".to_string()).unwrap();
         assert_eq!(query_res.token, "token_address".to_string());
         assert_eq!(query_res.amount, Uint128::from(22u128));
@@ -3379,6 +3544,14 @@ mod test {
             "eyJ0b2tlbiI6InRva2VuX2FkZHJlc3MiLCJhbW91bnQiOiIyMiJ9"
         );
 
+        let rsp = query(
+            deps.as_ref(),
+            env.clone(),
+            FundManagerQueryMsg::FeeCollector {},
+        )
+        .unwrap();
+        assert_eq!(rsp.to_string(), "ImFkZHJlc3NfdG9fYmVfY29sbGVjdG9yXzIi");
+
         let rsp = query_liquidity(
             deps.as_ref(),
             "unexist".to_string(),
@@ -3438,6 +3611,7 @@ mod test {
         let info = mock_info(owner, &[]);
         let msg = InstantiateMsg {
             owner: owner.to_string(),
+            fee_collector: owner.to_string(),
         };
 
         let res = instantiate(deps.as_mut(), env.clone(), info.clone(), msg);
diff --git a/contracts/fundmanager-base/src/msg.rs b/contracts/fundmanager-base/src/msg.rs
index 494b575..a710a73 100644
--- a/contracts/fundmanager-base/src/msg.rs
+++ b/contracts/fundmanager-base/src/msg.rs
@@ -4,4 +4,5 @@ use serde::{Deserialize, Serialize};
 #[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
 pub struct InstantiateMsg {
     pub owner: String,
+    pub fee_collector: String,
 }
diff --git a/contracts/fundmanager-base/src/state.rs b/contracts/fundmanager-base/src/state.rs
index 7198a25..60aaed9 100644
--- a/contracts/fundmanager-base/src/state.rs
+++ b/contracts/fundmanager-base/src/state.rs
@@ -4,6 +4,8 @@ use fundmanager::Liquidity;
 
 /// Store the owner of the contract to add/remove signers
 pub const OWNER: Item<Addr> = Item::new("owner");
+/// Store the fee collector address
+pub const FEE_COLLECTOR: Item<Addr> = Item::new("fee_collector");
 /// Store fee configuration
 pub const FEE: Map<&str, Uint128> = Map::new("fee");
 /// Store the liquidities map, `(owner, token) -> liquidity`
diff --git a/packages/fundmanager/src/event.rs b/packages/fundmanager/src/event.rs
index e7b280e..434a613 100644
--- a/packages/fundmanager/src/event.rs
+++ b/packages/fundmanager/src/event.rs
@@ -15,6 +15,20 @@ impl<'a> Event for TransferOwnershipEvent<'a> {
     }
 }
 
+/// Tracks fee additions
+pub struct SetFeeCollectorEvent<'a> {
+    pub from: &'a str,
+    pub collector: &'a str,
+}
+
+impl<'a> Event for SetFeeCollectorEvent<'a> {
+    fn add_attributes(&self, rsp: &mut Response) {
+        rsp.attributes.push(attr("action", "set_fee_collector"));
+        rsp.attributes.push(attr("collector", self.collector));
+        rsp.attributes.push(attr("from", self.from));
+    }
+}
+
 /// Tracks fee additions
 pub struct SetFeeEvent<'a> {
     pub from: &'a str,
diff --git a/packages/fundmanager/src/lib.rs b/packages/fundmanager/src/lib.rs
index 2b66bbc..2f982a7 100644
--- a/packages/fundmanager/src/lib.rs
+++ b/packages/fundmanager/src/lib.rs
@@ -1,7 +1,7 @@
 pub use crate::event::{
     AddFoundryAssetEvent, AddLiquidityEvent, AddSignerEvent, BridgeSwapEvent,
     BridgeWithdrawSignedEvent, RemoveFoundryAssetEvent, RemoveLiquidityEvent, RemoveSignerEvent,
-    SetFeeEvent, TransferOwnershipEvent,
+    SetFeeCollectorEvent, SetFeeEvent, TransferOwnershipEvent,
 };
 pub use crate::helpers::FundManagerContract;
 pub use crate::msg::{FundManagerExecuteMsg, MigrateMsg, WithdrawSignMessage};
diff --git a/packages/fundmanager/src/msg.rs b/packages/fundmanager/src/msg.rs
index ec0efcd..c29cd5e 100644
--- a/packages/fundmanager/src/msg.rs
+++ b/packages/fundmanager/src/msg.rs
@@ -9,6 +9,9 @@ pub enum FundManagerExecuteMsg {
     TransferOwnership {
         new_owner: String,
     },
+    SetFeeCollector {
+        collector: String,
+    },
     SetFee {
         token: String,
         fee: Uint128,
diff --git a/packages/fundmanager/src/query.rs b/packages/fundmanager/src/query.rs
index 7a18902..e9b94f6 100644
--- a/packages/fundmanager/src/query.rs
+++ b/packages/fundmanager/src/query.rs
@@ -14,6 +14,7 @@ pub enum FundManagerQueryMsg {
         start_after: Option<(String, Addr)>,
         limit: Option<u32>,
     },
+    FeeCollector {},
     Owner {},
     Signers {
         start_after: Option<String>,
diff --git a/test.sh b/test.sh
index 0fe2c2c..8411a8a 100644
--- a/test.sh
+++ b/test.sh
@@ -4,9 +4,9 @@
 # VALIDATOR=$(cudos-noded keys show -a validator --keyring-backend=test)
 # cudos-noded tx wasm store cw-plus/fundmanager_base.wasm --from=validator --keyring-backend=test --chain-id=test --node http://localhost:26657 --gas=auto --gas-adjustment=1.3 -y
 # deploy with admin upgradeable
-# cudos-noded tx wasm instantiate 1 '{"owner":"'$VALIDATOR'"}' --from=validator --label "FerrumFundManager" --chain-id=test --gas=auto --gas-adjustment=1.3 -b=block --keyring-backend=test --admin=$VALIDATOR -y
+# cudos-noded tx wasm instantiate 1 '{"owner":"'$VALIDATOR'","fee_collector":"'$VALIDATOR'"}' --from=validator --label "FerrumFundManager" --chain-id=test --gas=auto --gas-adjustment=1.3 -b=block --keyring-backend=test --admin=$VALIDATOR -y
 # deploy without admin
-# cudos-noded tx wasm instantiate 1 '{"owner":"'$VALIDATOR'"}' --from=validator --label "FerrumFundManager" --chain-id=test --gas=auto --gas-adjustment=1.3 -b=block --keyring-backend=test --no-admin -y
+# cudos-noded tx wasm instantiate 1 '{"owner":"'$VALIDATOR'","fee_collector":"'$VALIDATOR'"}' --from=validator --label "FerrumFundManager" --chain-id=test --gas=auto --gas-adjustment=1.3 -b=block --keyring-backend=test --no-admin -y
 # CONTRACT=cudos14hj2tavq8fpesdwxxcu44rty3hh90vhujrvcmstl4zr3txmfvw9strccpl
 # cudos-noded tx wasm execute $CONTRACT '{"add_foundry_asset":{"token":"stake"}}' --from=validator --gas=auto --gas-adjustment=1.3 --chain-id=test -y --keyring-backend=test
 # cudos-noded tx wasm execute $CONTRACT '{"remove_foundry_asset":{"token":"stake"}}' --from=validator --gas=auto --gas-adjustment=1.3 --chain-id=test -y --keyring-backend=test
@@ -18,7 +18,10 @@
 # cudos-noded tx wasm execute $CONTRACT '{"remove_signer":{"signer":"0x0bdb79846e8331a19a65430363f240ec8acc2a52"}}' --amount=1000stake --from=validator --gas=auto --gas-adjustment=1.3 --chain-id=test -y --keyring-backend=test
 # cudos-noded tx wasm execute $CONTRACT '{"transfer_ownership":{"new_owner":"cudos1nysrj2xxpm77xpkvglne0zcvnxuq0laacc7nrv"}}' --amount=1000stake --from=validator --gas=auto --gas-adjustment=1.3 --chain-id=test -y --keyring-backend=test
 # cudos-noded tx wasm execute $CONTRACT '{"set_fee":{"token":"stake","fee":"800"}}' --from=validator --gas=auto --gas-adjustment=1.3 --chain-id=test -y --keyring-backend=test 
+# cudos-noded tx wasm execute $CONTRACT '{"set_fee_collector":{"collector":"cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym"}}' --from=validator --gas=auto --gas-adjustment=1.3 --chain-id=test -y --keyring-backend=test 
 
+# cudos-noded query bank balances cudos167mthp8jzz40f2vjz6m8x2m77lkcnp7nxsk5ym
+# cudos-noded query wasm contract-state smart $CONTRACT '{"fee_collector":{}}'
 # cudos-noded query wasm contract-state smart $CONTRACT '{"liquidity":{"owner":"'$VALIDATOR'","token":"stake"}}'
 # cudos-noded query wasm contract-state smart $CONTRACT '{"all_liquidity":{}}'
 # cudos-noded query wasm contract-state smart $CONTRACT '{"all_liquidity":{"start_after":["acudos", "cudos1syysfe8ryh7ltnpqe9xvf59thdpyqp8x6aewxh"]}}'