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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 (%)
1.37
Ongoing charge date
31/01/2024
Management agreement
Management fee is payable as a proportion of NAV at 1.25% p.a. for NAV less than GBP 1.5bn; at 1.1% p.a. for NAV between GBP 1.5bn and GBP 2bn and at 1% p.a. for NAV greater than GBp 2bn.
Performance fee
Yes
Performance fee rate
20
Performance fee details
Performance fees are only paid once the respective fund has returned 100% of capital, plus a hurdle (typically 8% p.a.). After that, gains are typically split 80% to the investor and 20% to the private equity manager; this performance fee is called carried interest or carry.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
