Ongoing charge plus performance fee (%)
Ongoing charge date
Management agreement
The Company’s investments will be 0.4% of funds under management up to 250m, reducing to 0.38% on funds between 250m to 500m and 0.32% on funds above 500m. As part of the transition, Lazard has additionally agreed to waive its fee for the first three and a half months. The investment management agreement shall be terminable by either party serving six months' notice.
Performance fee

A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.

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