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Charges

Ongoing charge (%)
0.78
Ongoing charge plus performance fee (%)
0.78
Ongoing charge date
30/09/2023
Download the AIC ongoing charge methodology
Management agreement
The management fee will be equal to 1/12 of 0.5% of the NAV. The Management Fee will be calculated and paid monthly in arrears. For the period from First Admission until the date on which 90% of the Net Proceeds has been invested the value attributable to any Investments other than equity or equity-related investments in quoted or unquoted portfolio companies held for investment purposes will be excluded from the calculation of NAV for the purposes of determining the Management Fee. The Investment Adviser will be entitled to receive a performance fee, the sum of which will be equal to 20% of the amount by which the Adjusted NAV at the end of a Calculation Period exceeds the higher of: (i) the Performance Hurdle; and (ii) the High Water Mark. The Agreement may be terminated by either party on not less than six months prior written notice of termination.
Performance fee
Yes
Performance fee rate
12.5
Performance fee details
The Investment Adviser will be entitled to receive a performance fee, the sum of which will be equal to 12.5% of the amount by which the Adjusted NAV at the end of a Calculation Period exceeds the higher of: (i) the Performance Hurdle; and (ii) the High Water Mark .

A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.

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