Wind up provisions
The Board has agreed with the Manager that if, on the last business day in March, June, September or December of any year, the NAV of the Company were to be below USD300 million (on the basis of the prevailing US Dollar/Sterling exchange rate), the Board would convene a general meeting of the Company shareholders at which a special resolution proposing the liquidation would be put forward. Were the resolution to be passed, the Company would be liquidated and an amount equal to 2% of the NAV (subject to a deduction in respect of any amount of the Annual Buy Back Allowance for the relevant calendar year that remains unused) would be paid to the Manager in addition to any other fees due to the Manager up to the date of termination of the Management Agreement.
Data provided by Morningstar.
Company documents provided by FE fundinfo.