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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
Ongoing charge plus performance fee (%)
2.35
Ongoing charge date
31/12/2023
Management agreement
Frostrow Capital LLP will receive an annual portfolio management fee, calculated monthly and payable monthly in arrears, equal to 1.25% of the NAV of the company up to GBP 100m and at 1% of NAV over GBP 100m. In respect of a given Performance Period, a performance fee shall be calculated and payable equal to 10% of any amount by which the adjusted NAV of company at the end of the Performance Period exceeds the higher of (a) a compounding hurdle on the gross proceeds of the IPO of 5% p.a. and (b) the High Watermark. The performance fee is subject to a cap in each performance period of an amount equal to the aggregate of 1.5% of the weighted average NAV in each year (or part year, as applicable) of that performance period. The contract terminable on notice period of 6 months.
Performance fee
Yes
Performance fee rate
10
Performance fee details
In respect of a given Performance Period, a Performance Fee shall be calculated and payable equal to 10% of any amount by which the reference Amount at the end of the Performance Period exceeds the higher of (a) a compounding hurdle on the gross proceeds of the IPO of 5% p.a.; and (b) a high watermark. The performance fee is subject to a cap in each performance period of an amount equal to the aggregate of 1.5% of the weighted average NAV.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
