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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 (%)
5.4
Ongoing charge date
31/01/2023
Management agreement
The management fee is payable quarterly in arrears and is based on 2% of the latest published NAV. Octopus is also entitled to an annual performance related incentive fee. This performance fee is equal to 20% of the amount by which the NAV from the start of the sixth accounting and subsequent accounting period exceeds simple interest of the Bank of England base rate for the same period and is in line with industry standards. The NAV at the start of the sixth accounting period must be at least GBX 100. Agreement may be terminated at any time thereafter by not less than twelve months’ notice given by either party.
Performance fee
Yes
Performance fee rate
20
Performance fee details
Octopus is entitled to an annual performance related incentive fee in relation to the Ords. This performance fee is equal to 20% of the amount by which the NAV from the start of the sixth accounting and subsequent accounting period exceeds simple interest of the Bank of England base rate for the same period and is in line with industry standards. The NAV at the start of the sixth accounting period must be at least GBX 100.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
