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A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
Overview
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Charges
2.94
Ongoing charge plus performance fee (%)
2.94
Ongoing charge date
28/02/2023
Management agreement
Manager receives a performance related management fee calculated as 20% of the increase in the NAV of the company, over the six-month periods to the end of August and February in each year, before taking into account the effects of distributions and purchase of Company's own shares effected during that period. The fee is subject to a maximum amount payable of GBP 1.25m in any year to the end of February and a minimum of 1.9% p.a. of the NAV of the company. A fixed secretarial fee is GBP 50,000 p.a. Contract terminable on 6 months' notice.
Performance fee
Yes
Performance fee rate
20
Performance fee details
Manager receives a performance related management fee calculated as 20% of the increase in the NAV of the company, over the six-month periods to the end of August and February in each year, before taking into account the effects of distributions and purchase of the Company's own shares effected during that period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
