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Charges

Ongoing charge (%)
1.7
Ongoing charge plus performance fee (%)
1.7
Ongoing charge date
31/12/2023
Download the AIC ongoing charge methodology
Management agreement
The company pays a fee of 1.5% p.a. on the current value of its existing private equity portfolio, excluding investments in other collective investment funds. Under these arrangements, carried interest is payable based on 20% of the aggregate profits, but is only payable after the repayment to the company of its invested capital and it has received a preferred return, based on 8% p.a., calculated daily, on the aggregate of its net cumulative cash flows in each fund and such preferred return amount that is capitalised annually.
Performance fee
Yes
Performance fee rate
20
Performance fee details
Performance fee allows for a carried interest of 20% of the excess annual growth in average NAV over an 8% preferred return, based on a 3 year rolling average NAV.

A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.

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