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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
Engage
Charges
5.00
Ongoing charge plus performance fee (%)
5.00
Ongoing charge date
31/12/2023
Management agreement
Annual management fee of (i) 1.50% p.a. of the average audited NAV of LMS, to the extent that NAV of LMS under management are GBP 100m or less; (ii) 1.25% p.a. of the average audited NAV of LMS to the extent that the NAV exceeds GBP 100m, but is less than GBP 150m; and (iii) 1.00% p.a. of the average audited NAV of LMS to the extent that the NAV exceeds GBP150m. A performance fee of 15% of the gain in NAV of New Investments is payable if the cumulative compound growth in the NAV of the New Investments at the time of measurement represents at least 8% p.a. Contract terminable on notice period of 12 months.
Performance fee
Yes
Performance fee rate
15
Performance fee details
A performance fee of 15% of the gain in NAV of New Investments is payable if the cumulative compound growth in the NAV of the New Investments at the time of measurement represents at least 8% p.a.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
