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Charges

Ongoing charge (%)
2.27
Ongoing charge plus performance fee (%)
2.27
Ongoing charge date
31/12/2023
Download the AIC ongoing charge methodology
Management agreement
Under the Investment Management Agreement, the Investment Manager will not charge any base or other ongoing management fees, but will be entitled to reimbursement of reasonable expenses incurred by it in the performance of its duties. The Investment Manager will receive from the Company, a Profit Share based on income, as calculated for UK tax purposes and the Capital Account.
Performance fee
Yes
Performance fee rate
30
Performance fee details
A performance fee will be charged quarterly if return hurdles are achieved, with an annual reconciliation. There are 3 tiers of fees: 0% if distributable income less than 4%; 20% if distributable income is between 4 and 8%; 30% if distributable income exceeds 8%.

A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.

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