Virtual Portfolio | Print page
Total Returns on £1000 over
Discrete performance % over
Discrete performance over
Under the investment management agreement, the investment manager will receive a base management fee of 0.50% p.a. of the Groups net assets and reduced to 0.25% p.a. on cash net of gearing in excess of 5% of net assets. The fees of any managing agents appointed by the investment manager are payable out of the management fee. The Board has also agreed to pay a performance fee equal to 20% of the total return of the Funds directly held properties exceeding 110% of the total return on the Funds benchmark, measured over a rolling three year period. This excludes indirect property holdings. The total fee is capped at 0.6% of gross assets per financial year. Any fee due in excess of this 0.6% can be carried forward for up to 2 years. The fee is subject to a high watermark. The agreement is terminable on 6 months' notice. An administrative fee of GBP 130,000 p.a. (increasing annually with inflation) is also due. The fees of any managing agents appointed by the investment manager will be payable out of this fee.
© 2015 Citywire.co.uk. All Rights Reserved.