Pembroke VCT B shares | Charges

2.35

2.35

31/03/2023

Download the AIC ongoing charge methodology

The Investment Manager provides services in accordance with the IMA for which it receives a management fee of 2% of the Companys NAV. The Manager has also agreed to indemnify the Company by such amount as is equal to the excess by which the Annual Running Costs of the Company exceed 0.5% of the Company’s NAV, calculated on an annual basis.The annual management fee is payable quarterly.

Yes

20

The Manager will be incentivised with a Performance Fee to align the interests of the Manager and Shareholders. • a Performance Fee is only payable to the Manager if the Company’s cumulative realised investment gains are greater than its cumulative realised investment losses (requiring all realised losses, past and future, to be recovered before a Performance Fee is paid); • a Total Return Hurdle of 3 pence per year from 26 August 2020 must be achieved before a Performance Fee is paid to the Manager; • the relevant Performance Fee will be calculated at each financial year-end and half-year balance sheet dates using information disclosed in the relevant year-end or half-year financial statements; • if the above conditions are met, a Performance Fee of 20% of the amount by which cumulative realised investment gains exceed cumulative realised investment losses will be payable to the Manager.