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Charges

Ongoing charge (%)
0.45
Ongoing charge plus performance fee (%)
0.45
Ongoing charge date
31/12/2023
Download the AIC ongoing charge methodology
Management agreement
Under the Investment Management Agreement, no regular management fees are payable. A performance fee is payable to the Investment Manager only if the benchmark is outperformed. The benchmark is the FTSE All-Share Index (total return). It will be paid an annual performance fee equal to one third of the outperformance of the Company’s NAV per Ords total return over the FTSE All-Share Index (total return) for each financial year. The Company’s NAV per Ords return is based on the weighted number of the Ords in issue and NAV over the relevant period.
Performance fee
Yes
Performance fee rate
33.3
Performance fee details
The performance fee will be equal to one third of the outperformance of the NAV Total Return over the FTSE All-Share Total Return for each financial year. The total annual performance fee will be capped at 4% p.a of the NAV of the company at the end of the relevant financial year, in the event that the NAV per share has increased in absolute terms over the period, and 2% in the event that the NAV per share has decreased in absolute terms over the period.

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

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