Ongoing charge plus performance fee (%)
Ongoing charge date
Management agreement
The annual management fee is charged at a rate of 0.75% on the first GBP 50m of NAV, at 0.65% on the next GBP 200m of NAV and at 0.55% on the remaining NAV. The fee will be calculated and paid on a quarterly basis. The Managers may terminate the Management Agreement on six months’ notice and the Company may terminate on three 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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