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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 (%)
3.14
Ongoing charge date
28/02/2023
Management agreement
The management will be paid an annual fee of 2% of the NAV payable quarterly. These fees are capped, the Investment Manager having agreed to reduce its fee to contain total annual costs (excluding performance fee and trail commission) to within 3.5% of funds raised. The agreement can be terminated by not less than twelve months notice, given at any time by either party, on or after the fifth anniversary. The Management Team will be entitled in aggregate to share in 20% of the aggregate excess on any amounts realised by the Company in excess of 110p per Ord, the Performance Target.
Performance fee
Yes
Performance fee rate
20
Performance fee details
Members of the Management Team will be entitled to a performance related incentive of 20% of the aggregate excess on any amounts realised by the company in excess of GBP 1.1 per Ord.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
