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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 (%)
2.1
Ongoing charge date
31/12/2023
Management agreement
The Investment Manager is entitled to a management fee calculated on the following basis: (1/12 of 1% of the NAV on the last Business Day of the Month in respect of which the Management Fee is to be paid minus (1/12 of USD 100,000). The Management Fee payable in respect of any quarter will be reduced by an amount equal to the Company’s pro rata share of any transaction fees, topping fees, break-up fees, investment banking fees, closing fees, consulting fees or other similar fees which the Investment Manager receives in connection with transactions involving investments of the Company. Subject to the NAV per Share as at the end of a Performance Period, representing an increase of at least 6% p.a. to the Issue Price, the Investment Manager shall be entitled to receive 10% of the amount by which the NAV accretion over the Performance Period exceeds an amount representing an increase of 6%. to the NAV over such Performance Period, subject to catch up arrangements.
Performance fee
Yes
Performance fee rate
10
Performance fee details
Subject to the NAV per Share as at the end of a performance period representing an increase of at least 6% p.a. to the issue price (and not being lower than the previous NAV per Share in respect of which a performance fee was paid), the Investment Manager shall be entitled to receive 10% of the amount by which the NAV accretion over the performance period exceeds an amount representing an increase of 6% to the NAV over such performanceperiod, subject to catch up arrangements.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
