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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
Dividends
Charges
Gearing
Research
Announcements
Management
Documents
Invest
Charges
1.37
Ongoing charge plus performance fee (%)
1.83
Ongoing charge date
31/03/2023
Management agreement
The management fee payable quarterly in arrears calculated at the rate of one-fourth of 1% of Adjusted NAV minus Uncommitted Cash, where uncommitted Cash means cash that has not been allocated for repayment of a liability on the balance sheet of any member of the Group. Adjusted NAV means Net Asset Value, minus cash on the Company balance sheet. The performance fee payable to the Adviser by the company will be 10% above a hurdle of 7% of NAV, capped at 50% of the advisory fee in the respect of that period.
Performance fee
Yes
Performance fee rate
10
Performance fee details
The performance fee payable to the Investment Advisor by the Company will be a sum equal to 10 per cent. of such amount by which Net Asset Value at the end of a calculation period exceeds the Benchmark provided always that in respect of any financial period of the Company the performance fee payable to the Investment Advisor shall never exceed an amount equal to 50 per cent of the Advisory Fee paid to the Investment Advisor in respect of that period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
