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
Gearing
Research
Announcements
Management
Documents
Invest
Charges
Ongoing charge plus performance fee (%)
1.7
Ongoing charge date
30/06/2023
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
12.5
Performance fee details
The incentive fee is 12.5% of any increase in NAV above an 8% p.a. 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.
Data provided by Morningstar.
Company documents provided by FE fundinfo.
