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A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
Charges
3.31
Ongoing charge plus performance fee (%)
3.31
Ongoing charge date
31/12/2023
Management agreement
The Investment Adviser (Blackfinch Investments Limited) will charge an Annual Advisory Fee of 2.5% of the NAV of the Blackfinch Spring VCT annually. The fee is payable quarterly in arrears.The Company will be charged a Performance Incentive Fee payable to the Investment Adviser in relation to each accounting period. The amount of the Fee will be equal to 20% of the amount by which the Performance Value per Share at the end of an accounting period exceeds the High Water Mark (being the higher of 130p and the highest Performance Value per Share at the end of any previous accounting period), and multiplied by the number of Shares in issue in the Company on the relevant date. The Performance Value per Share is defined as the total of (i) the Net Asset Value (ii) all Performance Incentive Fees previously paid or accrued by the Company to the Investment Adviser for all previous accounting periods, and (iii) the cumulative amount of dividends paid by the Company before the relevant accounting reference date (including the amount of those dividends in respect of which the ex-dividend date has passed as at that date), divided by the number of Shares in issue in the Company on the relevant date.
Performance fee
Yes
Performance fee rate
20
Performance fee details
The amount of the performance incentive fee is equal to 20% of the amount by which the Performance Value per Share at the end of an accounting period exceeds the High Water Mark (being the higher of 130p and the highest Performance Value per Share at the end of any previous accounting period), and multiplied by the number of Shares in issue at the end of the relevant period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
