Charges

Ongoing charge plus performance fee (%)
0.7
Ongoing charge date
31/12/2022
Management agreement
Management fee is set at 0.8% for any market capitalisation up to GBP 400m, 0.6% for any market capitalisation between GBP 400m and GBP 1bn, and 0.5% for any market capitalisation over GBP 1bn. The performance fee will be calculated as 10% of outperformance against the benchmark, after adjusting for changes in share capital and will be capped at 1.75% of the Company average daily NAV over the relevant year. Contract is terminable on notice period of 6 months.
Performance fee
Yes
Performance fee rate
10
Performance fee details
The performance fee will be calculated as 10% of outperformance against the benchmark, after adjusting for changes in share capital and will be capped at 1.75% of the Company average daily NAV over the relevant year.

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

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