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A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.
Overview
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ESG
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Gearing
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Invest
Charges
1.76
Ongoing charge date
30/06/2025
Please note the charges above have been taken from the company's own literature, and do not represent the AIC ongoing charge methodology. Please check the company's annual report for details.
Management agreement
Management fee at: 1.30% of net assets, levied on the first USD 1000m of net assets; 1.00% of net assets, levied on net assets between USD 1,000m and USD 1,500 m; 0.75% of net assets, levied on net assets between USD 1,500 m and USD 2,000 m; and 0.50% of net assets, levied on net assets above USD 2,000m.
Performance fee
Yes
Performance fee rate
10
Performance fee details
The incentive fee is 10% of any increase in NAV above an 10% per annum hurdle rate, with the cap on incentive fees paid out in any year at 1.5% of weighted average of month-end net assets. Excess fees are still carried forward, but can be clawed back if NAV declines after the year end. The Investment manager must use 25% of any incentive fee paid to buy VOF shares via open market purchases, subject to a minimum holding period of 5 years.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
