Albion Enterprise VCT | Charges

2.5

2.5

31/03/2023

Download the AIC ongoing charge methodology

The management agreement can be terminated by either party on 12 months notice. The Manager is paid an annual fee equal to 2% of the NAV of the Company. The fee is payable quarterly in arrears.The Manager is also entitled to an arrangement fee, payable by each portfolio company, of approximately 2% on each investment made. The Company will pay an incentive fee to the Manager of an amount equal to 20% of the excess return that will be calculated for each financial year. The minimum target level, comprising dividends and net asset value, will be equivalent to an annualised rate of return of the average base rate of the Royal Bank of Scotland plc plus 2% p.a. on the original subscription price of GBP1. Any shortfall of the target return will be carried forward into subsequent periods and the incentive fee will only be paid once all previous and current target returns have been met.

Yes

20

Fee equal to 20% of the excess return that will be calculated for each financial year.The fee comprising dividends and NAV will be equivalent to an annualised rate of return of the average base rate of the Royal Bank of Scotland plc plus 2% p.a. on the original subscription price of GBP1. Any shortfall of the target return will be carried forward into subsequent periods and the incentive fee will only be paid once all previous and current target returns have been met.