Charges

Ongoing charge plus performance fee (%)
2.51
Ongoing charge date
31/12/2022
Management agreement
Under the Investment Adviser Agreement, the Investment Adviser receives from the Company an advisory fee equal to: (i) 1% of the NAV p.a. of the Listed Hydrogen Assets up to GBP 100m; (ii) 0.8% of the NAV p.a. of the Listed Hydrogen Assets from GBP 100m (save that the Investment Adviser has agreed to reduce this fee to 0.5% in respect of the Liquidity Reserve pending their investment in Private Hydrogen Assets for 18 months following Admission); (iii) 1.5% of the NAV p.a. of any Private Hydrogen Assets held by the Company directly (i.e. not held by the HydrogenOne Partnership or any other undertaking advised by the Investment Adviser where the Investment Adviser is receiving a separate advisory fee; (iv) for so long as the Company is not considered a ‘feeder fund’ for the purposes of the Listing Rules, 1.5% of the NAV p.a of the Private Hydrogen Assets held by the HydrogenOne Partnership), payable quarterly in advance. No performance fee is payable to the Investment Adviser under the Investment Adviser Agreement but the principals of the Investment Adviser are, subject to certain performance conditions being met, entitled to carried interest fees from the HydrogenOne Partnership.
Performance fee
No

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

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