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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
2.59
Ongoing charge plus performance fee (%)
2.59
Ongoing charge date
31/12/2023
Management agreement
Mobeus Equity Partners LLP provides investment advisory, administrative and company secretarial services to the Company, for a fee of 2% p.a. of closing net assets, calculated on a quarterly basis by reference to the net assets at the end of the preceding quarter, plus a fixed fee of 115,440 per annum, the latter being subject to indexation, if applicable. In 2013, Mobeus agreed to waive such further increases due to indexation, until otherwise agreed with the Board.The performance fee will be payable annually, with any cumulative shortfalls below the 6% hurdle having to be made up in later years. The incentive payment will be shared between the Investment Manager 75% and the Promoter 25%.
Performance fee
Yes
Performance fee rate
20
Performance fee details
The manager will be entitled to receive a performance fee of 20% of the excess above 6% of the NAV per share of the annual dividends paid to Shareholders. The fee will be payable annually, with any cumulative shortfalls below the 6% hurdle having to be made up in later years. The incentive payment will be shared between the manager 75% and the Promoter 25%.
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Company documents provided by FE fundinfo.
