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A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
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Charges
Ongoing charge plus performance fee (%)
2.4
Ongoing charge date
28/02/2023
Management agreement
The agreement is terminable by either party at any time by one year’s prior written notice. The management fee is based upon an annual amount of 2.0% of the NAV. It subjects to a cap at 3.25% of the NAV. For each Relevant Offer, if the Hurdle Amount is not met, no performance incentive fee will be payable. Once the Hurdle Amount has been met, the performance incentive fee payable in relation to a financial year is 20% of the amount by which the Performance Value exceeds the initial NAV of the Relevant Offer, less any performance fees paid previously.
Performance fee
Yes
Performance fee rate
20
Performance fee details
The performance incentive fee will be equal to 20% of the amount by which each such Respective Offer Performance Value exceeds the relevant Respective Offer Initial NAV per Share, less the aggregate amount of any performance incentive fee per Respective Offer Share already paid in respect of that Respective Offer in relation to previous financial years.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
