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Total Returns on £1000 over
Discrete performance % over
Discrete performance over
Management fee charged at 0.65% p.a. of the lower of the Net Assets or Adjusted Market Capitalisation. A performance fee is payable at the rate of 10% of the amount by which the growth in the lower of the Net Assets or Adjusted Market Capitalisation per Ordinary Share of the Company in each performance period exceeds a specified performance hurdle calculated with reference to the annual average gross running yield on the 2.5% Consolidated loan Stock over the period. Half of the performance fee accrued last year that was attributable to the expansion of the premium will be withheld by the Company, and only paid in full if the NAV next March exceeds the NAV for the previous financial year. The agreement is terminable by the Company on 12 months' notice.
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