Company search
A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
Overview
Performance
Portfolio
ESG
Dividends
Charges
Research
Announcements
Management
Documents
Invest
Charges
Ongoing charge plus performance fee (%)
2.5
Ongoing charge date
30/09/2023
Management agreement
The management fee is 2.4% p.a. of closing NAV, calculated on a quarterly basis by reference to the net assets at the end of the preceding quarter. One sixth of this fee is subject to minimum and maximum limits of GBP150,000 and GBP170,000 p.a. respectively. The Investment Adviser is entitled to receive an annual performance-related incentive fee of 20% of the dividends paid in a year in excess of a Target Rate comprising firstly, an annual dividend paid in a year target which started at GBX 6 per share on launch (indexed each year for RPI) and secondly a requirement that any shortfall of cumulative dividends paid in each year beneath the cumulative annual dividend target is carried forward and added to the Target Rate for the next accounting period.
Performance fee
Yes
Performance fee rate
20
Performance fee details
The Investment Adviser is entitled to receive an annual performance-related incentive fee of 20% of the dividends paid in a year in excess of a Target Rate comprising firstly, an annual dividend paid in a year target which started at GBX 6 per share on launch (indexed each year for RPI) and secondly a requirement that any shortfall of cumulative dividends paid in each year beneath the cumulative annual dividend target is carried forward and added to the Target Rate for the next accounting period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
