Ongoing charge plus performance fee (%)
Ongoing charge date
Management agreement
The management fee is equal to 0.8% p.a. of the gross assets. No penalty on termination of the investment management contract will be payable by the Company in the event that six months written notice is given to BlackRock. There are no provisions in the management agreement relating to payment of fees in lieu of notice. The investment management fee is levied quarterly, based on the gross assets on the last day of each quarter, and is charged 25% to the revenue account and 75% to the capital account.
Performance fee

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

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