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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 date
31/03/2025
Management agreement
Pursuant to the terms of the Investment Management Agreement, the Company shall pay to CDIM (as directed by the Investment Manager) an annual management fee (the ?Annual Management Fee?) on the following basis: * 1% p.a. of the Average Market Capitalisation up to, but not including GBP 500m; * 0.9% p.a. of the Average Market Capitalisation that is between GBP 500m up to and including GBP 1b; and * 0.80% p.a on such part of the Average Market Capitalisation that is in excess of GBP 1b.
Performance fee
Yes
Performance fee rate
12.5
Performance fee details
The first performance fee calculation date is 31 March 2024 and subsequent calculation dates are on 31 March each year thereafter. The fee will be equal to 12.5% of the excess return over the target of 9% for the NAV return or share price return, whichever is the lower, multiplied by the time-weighted average number of ordinary shares in issue during the relevant period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
