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A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
Overview
Performance
Portfolio
ESG
Dividends
Charges
Research
Announcements
Management
Documents
Invest
Charges
2.06
Ongoing charge plus performance fee (%)
2.06
Ongoing charge date
30/09/2022
Management agreement
Management fee of 2% p.a. of the NAV of the Company which is paid quarterly in arrears. A performance fee is paid up to 5% of NAV when the net return of the ordinary shares exceeds 8 % of NAV p.a.. To the extent that the total return exceeds the threshold, a performance fee (plus VAT) will be paid to the Manager of 10% of the excess.
Performance fee
Yes
Performance fee rate
5
Performance fee details
A performance fee will not be payable to the Manager until the total return on funds exceeds an annual threshold of the higher of 4% or base rate plus 2% calculated on a compound basis. To the extent that the total return exceeds the threshold over the relevant period then a performance fee of 10% of the excess will be paid to the Manager. The amount of any performance fee which is paid in an accounting period shall be capped at 5% of funds for that period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
