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A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
Charges
Ongoing charge date
10/10/2025
Please note the charges above have been taken from the company's own literature, and do not represent the AIC ongoing charge methodology. Please check the company's annual report for details.
Management agreement
To align with standard market practice and to reflect the level of duties and responsibilities involved in acting as receiving agent, the Board has undertaken a market review and believes the Company should be aligned in its performance with the interest of Calculus Capital Limited and has taken the decision to revise the fees structure as follows: • the annual management fee charged by Calculus Capital Limited will be 2% on Net Asset Value. • Calculus Capital Limited is entitled to an annual service charge of 75,000 (plus VAT) to cover both company secretarial and receiving agent services.
Performance fee
Yes
Performance fee rate
10
Performance fee details
A shareholder-approved agreement with Calculus Capital provides for a 10% performance fee on excess realised gains (gains less losses) if all hurdles are met: (1) cumulative realised gains exceed losses since inception, (2) Total Return (NAV + dividends) is positive over a rolling 5-year period, and (3) the annual Total Return has increased by at least 4.5% from the prior year’s NAV. All three hurdles must be satisfied for any fee to be payable.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
