Ongoing charge plus performance fee (%)
Ongoing charge date
Management agreement
The managers are entitled to receive a fee of 0.55% p.a. on NAV up to GBP 350m, 0.45% p.a. from GBP 350m to GBP 450m of NAV and 0.25% p.a. on NAV in excess of GBP 450m, calculated and paid monthly. Agreement may be terminated by either party on 3 months' notice. A secretarial fee of GBP 75,000 p.a. is also payable, which is chargeable 100% to revenue.
Performance fee

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

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