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A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
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This company may have paid a performance fee to its manager in the last accounting period. Please check the company's annual report for details.
Ongoing charge date
30/06/2025
Management agreement
Under the terms of the Investment Management Agreement, no fixed management fee is payable by the company to the Investment Manager. The Investment Manager is entitled to receive a performance fee subject to meeting the relevant performance criteria. Performance Fee: 30% of outperformance (Capped) measured over 3 year discrete periods.
Performance fee
Yes
Performance fee rate
30
Performance fee details
The performance fee will be measured over periods of three years.The performance fee in any Performance Period shall be capped at 12% of the time weighted average adjusted net assets during the relevant Performance Period. The performance fee is calculated at a rate of 30% of the excess returns between adjusted NAV per share on the last day of the performance period. The Performance Fee in respect of each Performance Period will be paid at the end of the three-year period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
