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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
Dividends
Charges
Gearing
Research
Announcements
Management
Documents
Charges
1.75
Ongoing charge plus performance fee (%)
2.07
Ongoing charge date
31/12/2023
Management agreement
The investment manager is entitled to receive management fees equal to 1.5% p.a. of the NAV of TFG payable monthly in advance prior to the deduction of any accrued incentive fees. TFG will also pay to the investment manager an incentive fee for each calculation period equal to 25% of the increase in the NAV of TFG during the calculation period above (i) the reference NAV plus (ii) the hurdle for the calculation period. If the hurdle is not met in any calculation period (and no incentive fee is paid), the shortfall will not carry forward to any subsequent calculation period.
Performance fee
Yes
Performance fee rate
25
Performance fee details
Tetragon will also pay to the investment manager an incentive fee for each Calculation Period equal to 25% of the increase in the NAV of Tetragon during the Calculation Period above (i) the Reference NAV plus (ii) the Hurdle for the Calculation Period. If the Hurdle is not met in any Calculation Period (and no incentive fee is paid), the shortfall will not carry forward to any subsequent Calculation Period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
