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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
Invest
Charges
1.04
Ongoing charge plus performance fee (%)
1.04
Ongoing charge date
30/06/2023
Management agreement
The management fee is calculated and paid quarterly in arrears equal to 0.85% p.a. of the prevailing NAV up to USD 250m, 0.75% p.a. of the prevailing NAV between USD 250m and USD 500m, and 0.65% p.a. of the prevailing NAV in excess of USD 500m. The performance fee is an amount equal to 20% of the excess in Total Return per share and the High Watermark per Share multiplied by the time weighted average number of shares in issue during the calculation period. The Investment Management Agreement is for an initial term of three years from admission and thereafter, subject to termination on not less than12 months’ written notice by either party.
Performance fee
Yes
Performance fee rate
20
Performance fee details
CarryCo is entitled to receive from the company a performance fee, when the Total Return per share at the end of the calculation period is greater thanthe High Watermark per share. The performance fee due to CarryCo is an amount equal to 20% of the excess in Total Return per share and the High Watermark per share multiplied by the time weighted average number of shares in issue during the calculation period.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
