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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
0.92
Ongoing charge date
31/12/2023
Management agreement
Under the terms of the Investment Management Agreement, the Investment Manager is entitled to a combination of a Cash Fee and an Equity Element from the Company. The Cash Fee is based on the lower of market capitalisation and net asset value at the start of the quarter, as follows: • 0.25 per cent for the portion up to 500 million, • 0.225 per cent for the portion over 500 million and up to 1,000 million, • 0.2 per cent for the portion over 1,000 million and up to 3,000 million, and • 0.175 per cent for the portion over 3,000 million. The Equity Element is calculated quarterly in advance and is as follows: • 0.05 per cent for the portion up to 500 million, and • 0.025 per cent for the portion over 500 million and up to 1,000 million. The ordinary shares issued under the Equity Element are subject to a 3-year lock-up starting from the quarter in which they are issued. At 31 December each year, both the Cash Fee and Equity Element will be adjusted to reflect what would have been delivered if calculated quarterly in arrears.
Performance fee
No
Data provided by Morningstar.
Company documents provided by FE fundinfo.
