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Estimated NAV (p)
Share Price (p)
Total Returns on £1000 over
Discrete performance % over
Discrete performance over
The management agreement provides for the percentage rates to be reviewed every three years. The base management fee is 0.0875% per quarter, calculated quarterly in advance on the value of the assets under management. The notice period under the management agreement is 6 months. The performance fee is calculated as 15% of any outperformance of the benchmark, on a total return basis, over the Company's accounting year, subject to a limit on the total management fees payable in any one year of 1.0% of the average value of the net assets of the Company during the year (calculated monthly) and an absolute limit to the performance fee of GBP2m in any one year. No performance fee will be payable if the net asset value per share on the last day of the Company's year, calculated, in accordance with the Company's accounting policies, net of costs (including any performance fee) is equal to or lower than the NAV per share as at the preceding year end. Any underperformance relative to the benchmark or any unrewarded outperformance will be carried forward and set against any outperformance or underperformance respectively in subsequent years.
© 2013 Citywire.co.uk. All Rights Reserved.Citywire Financial Publishers Ltd. is authorised and regulated by the Financial Conduct Authority no: 222178 to provide investment advice and is bound by its rules.
© 2013 Citywire.co.uk. All Rights Reserved.Citywire Financial Publishers Ltd. is authorised and regulated by the Financial ServicesAuthority no: 222178 to provide investment advice and is bound by its rules.