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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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Charges
Ongoing charge plus performance fee (%)
2.6
Ongoing charge date
30/09/2023
Management agreement
The Manager is paid an annual management fee equivalent to 2.5% of the Company’s net assets which is paid quarterly in arrears. A performance fee is payable to the Manager when the total return on net proceeds of the ordinary shares exceeds 8% per annum (simple) on net funds raised. The performance fee payable in any one year is capped at 5% of net assets. To the extent that the total return exceeds the threshold, a performance fee (plus VAT) will be paid to the Manager of 10% of the excess.
Performance fee
Yes
Performance fee rate
10
Performance fee details
A performance fee is payable to the Manager when the total return on net proceeds of the ordinary shares exceeds 8% p.a. on net funds raised. The performance fee payable in any one year is capped at 5% of net assets. To the extent that the total return exceeds the threshold, a performance fee (plus VAT) will be paid to the Manager of 10% of the excess.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
