Ongoing charge plus performance fee (%)
Ongoing charge date
Management agreement
Annual management fee will be 0.9% when up to GBP 500m of NAV, and be 0.8% when NAV between GBP 500m to GBP 1bn, and be 0.7% when NAV over GBP 1bn. There is no performance fee. The Agreement can be terminated by either party on not less than 12 months written notice or on immediate notice in the event of certain breaches of its terms or the insolvency of either party.
Performance fee

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

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