Company search
A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
Overview
Performance
Portfolio
ESG
Dividends
Charges
Gearing
Research
Announcements
Management
Documents
Invest
Charges
0.88
Ongoing charge plus performance fee (%)
0.88
Ongoing charge date
31/08/2023
Management agreement
The basic management fee is charged at 0.75% p.a. of the net assets of the Company, reducing to 0.70% p.a. on net assets between GBP250m and GBP750m and reducing further to 0.65% for assets above GBP750m. The fee is payable quarterly in arrears and calculated as at the last business day in February, May, August and November in each year while the agreement remains in force. The performance fee is 10% of any outperformance of the NAV over an annual hurdle, being 107% of the NAV at the end of the previous calculation period. A fee will only be payable if the closing NAV exceeds the highest NAV for which a performance fee was previously paid. Any performance fee payable is capped at 0.75% of net assets.
Performance fee
Yes
Performance fee rate
10
Performance fee details
The performance fee is 10% of the amount by which the adjusted NAV per Ord at the end of the relevant calculation period exceeds a hurdle, being 107% of the adjusted NAV per ordinary share at the end of the previous calculation period multiplied by the time weighted average of the number of ordinary share in issue during the period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
