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Charges

Ongoing charge (%)
2.03
Ongoing charge plus performance fee (%)
2.03
Ongoing charge date
31/12/2022
Download the AIC ongoing charge methodology
Management agreement
The Company pays to the Manager a management fee which is equal to 1/12th of the 1.75% of the total market capitalisation of the company per month. The management fee is calculated and accrued as at the last business day of each month and is paid monthly in arrears. The Manager may in certain circumstances also be entitled to be paid a performance fee which is 15% of the total increase in the NAV, if the NAV at the end of any performance period exceeds the Hurdle as at the end of the Performance Period. The performance fee is subject to adjustments for any issue and/or repurchase of Ords. The management agreement may be terminated on notice period of 12 months.
Performance fee
Yes
Performance fee rate
15
Performance fee details
The amount of the performance fee is 15 % of the total increase in the NAV, if the Hurdle has been met, at the end of the relevant performance period.

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

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