Ongoing charge plus performance fee (%)
Ongoing charge date
Management agreement
The Manager earns a management fee of 0.55% p.a. of the NAV managed by F&C and a reduced management fee of 0.275% of the market value of investments in third party collective funds. The fee is calculated and paid monthly. The fees have been allocated 75% to capital reserve in accordance with accounting policies. There is no performance fee. The management agreement is terminable on six months notice given by 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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