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A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
Overview
Performance
Portfolio
ESG
Dividends
Charges
Gearing
Research
Announcements
Management
Documents
Invest
Charges
1.22
Ongoing charge plus performance fee (%)
1.22
Ongoing charge date
30/06/2023
Management agreement
The Investment Manager is entitled to receive from the Company a basic fee together with, where applicable, a performance fee. The basic management fee is 0.75% of the Company’s NAV. The basic management fee accrues daily and is payable quarterly in arrears.The performance fee is 10%, measured over rolling three year periods ending on 30 June each year by comparing the NAV total return per share over a performance period against the total return performance of the FTSE Small Cap (ex Investment Companies) Index.
Performance fee
Yes
Performance fee rate
10
Performance fee details
The Investment Manager is entitled to 10% of any excess of the NAV total return over the higher of the Benchmark NAV per share and the high watermark. The aggregate amount of the Management Fee and the Performance Fee in respect of each financial year of the Company shall not exceed an amount equal to 1.4% p.a. of the NAV of the Company as at the end of the relevant financial period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
