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Estimated NAV (p)
Share Price (p)
Total Returns on £1000 over
Discrete performance % over
Discrete performance over
Under the investment management agreement, the investment manager will receive an aggregate annual fee, payable quarterly in arrears, at the rate of 0.60% per annum of invested assets plus 0.25% per annum of cash held. An administrative fee of GBP 106,000 per annum (which will increase annually in line with inflation) is also due. The fees of any managing agents appointed by the investment manager will be payable out of this fee. The Agreement is for a fixed initial period of four years, and with effect from the third anniversary is terminable by any parties on 12 months notice. The administrator shall receive a fee of GBP50,000 per annum payable quarterly in arrears and the Administration and Secretarial Agreement can be terminated by either party on 90 days prior notice. The Board has also agreed to pay a performance fee equal to 20% of the total return of the Funds directly held properties exceed 110% of the total return on the Funds benchmark. This excludes indirect property holdings. The fee is capped at 1% of gross assets per financial year. Any fee due in excess of this 1% can be carried forward for up to 2 years. The fee is subject to a high watermark.
© 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.