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A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
Charges
Ongoing charge plus performance fee (%)
2.5
Ongoing charge date
31/03/2023
Management agreement
Management fee of 2% of the NAV p.a. Performance fees are payable after a return of 3.5p per Share as a distribution in any one financial year then, as long as the NAV, before the distribution, is higher than 70.6p per Share, the fee is calculated at a rate of 20% of the distribution amount over 3.5p per Share. The performance incentive fee will also have a catch-up should any previous years distribution not be met. The contract is terminable by one year prior written notice by either side.
Performance fee
Yes
Performance fee rate
20
Performance fee details
The Investment Manager is entitled to 20% of any dividends paid in excess of 3.5p p.a., as long as the NAV before any such dividend payment exceeds 70.6p per Share.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
