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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
3.25
Ongoing charge plus performance fee (%)
3.25
Ongoing charge date
30/11/2023
Management agreement
An investment management fee of 2.5% p.a. of the gross assets of the Company at the previous quarter end, and a secretarial fee of GBP 90,000, which is charged 100% to revenue and is subject to an annual adjustment to reflect movement in the UK Retail Prices Index. The Manager would also be entitled to a performance incentive fee, of an amount equal to 15% of any increase in the total return as at the end of the relevant six month period to the total return (after accruing for the performance incentive fee payable for that period) compared to the end of the last six month period on which a performance incentive fee was paid. The contract is terminable on 12 months notice.
Performance fee
Yes
Performance fee rate
15
Performance fee details
The Manager would also be entitled to a performance incentive fee, of an amount equal to 15% of any increase in the total return as at the end of the relevant six month period to the total return (after accruing for the performance incentive fee payable for that period) compared to the end of the last six month period on which a performance incentive fee was paid.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
