Charges

Ongoing charge plus performance fee (%)
1
Ongoing charge date
31/12/2022
Management agreement
Each of the third-party managers is entitled to a management fee, based on the assets under management. The base fee rates for managers in place at the end of 2021 range from 0.30% to 0.6% p.a..The weighted average base fee was 0.47% as at 31 December 2021. The performance-related fees are subjected to capping in any year.The agreements can be terminated on one to three months notice.
Performance fee
Yes
Performance fee rate
0.02
Performance fee details
The base management fee rates range from 0.2% to 0.8% p.a. and the performance fees are 20% p.a. of the relevant outperformance. All the fees are payable quarterly in arrears.

A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company.

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