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A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
Overview
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Management
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Invest
Charges
1.82
Ongoing charge plus performance fee (%)
1.82
Ongoing charge date
31/12/2023
Management agreement
The management fee calculates and payable monthly in arrears commencing with the quarter in which the exchange offer was completed. Subject to certain limitations, the management fee is equal to 0.0833% (one-twelfth of 1%) of company’s NAV. Manager is entitled to an incentive fee which is calculated in relation to the assets attributable to Ords, in accordance with Management Agreement.The Incentive Fee amount is equal to 10% of the amount by which the Adjusted NAV attributable to Ordinary Shares exceeds the higher of (i) the Incentive Hurdle at the relevant time and (ii) the High Watermark at the relevant time, in respect of the relevant Incentive Fee Period.
Performance fee
Yes
Performance fee rate
10
Performance fee details
The Incentive Fee amount is equal to 10% of the amount by which the Adjusted NAV attributable to Ordinary Shares exceeds the higher of (i) the Incentive Hurdle at the relevant time and (ii) the High Watermark at the relevant time, in respect of the relevant Incentive Fee Period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
