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A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
Overview
Performance
Portfolio
ESG
Dividends
Charges
Gearing
Research
Announcements
Management
Documents
Invest
Charges
1.56
Ongoing charge plus performance fee (%)
1.56
Ongoing charge date
30/06/2023
Management agreement
Accordingly, the IMA will be amended such that from 1 January 2024, the monthly fee due to the Investment Manager will be 57,500 (690,000 annually, as per 2023). On an annual basis, this fee equates to approximately 0.83% of the current NAV.
Performance fee
Yes
Performance fee rate
20
Performance fee details
The performance fee will be calculated by reference to the aggregate cash returned to Shareholders after 01-Jan-22 and the Investment Manager will receive 20% of the aggregate return of cash paid to Shareholders after 01-Jan-22 (including the interim dividend of 10p per Ords declared on 22-Dec-21) in excess of a threshold of GBP 216m, being the Basic Performance Hurdle per share as at 31-Dec-21 multiplied by the voting share capital.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
