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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 information unavailable, 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
The company charges a performance fee of 20% on excess cumulative realised gains, calculated as realised gains minus realised losses from portfolio disposals. This fee is only payable if three conditions are met: cumulative realised gains exceed losses since inception, total return (NAV plus dividends) is positive over a rolling five-year period, and total return has increased by at least 4.5% over the previous year’s NAV.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
