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Estimated NAV (p)
Share Price (p)
Total Returns on £1000 over
Discrete performance % over
Discrete performance over
Under a new management, administration and company secretarial agreement with Frostrow Capital LLP, Frostrow will receive a periodic fee equal to 0.30% per annum of the market capitalisation of the Company plus a fixed amount equal to GBP 60,000 per annum. The Investment Manager received a fee equal to 0.65% p.a. of the Company's net asset value. The Investment Management Agreement may by terminated by either giving notice of not less than 12 months. A performance fee is calculated quarterly by comparing the cumulative performance of the investment portfolio of the Company with the cumulative performance of the benchmark index since 30-Jun-05. The performance fee amounts to 16.5% of any out-performance of the NAV over the benchmark index, the Investment manager receiving 15% and Manager 1.5% of the outperformance. At each quarterly calculation date any performance fee payable is based on the lower of: (i) the cumulative out-performance of the investment portfolio over the benchmark index as at the quarter end date; and (ii) the cumulative out-performance of the investment portfolio over the benchmark as at the corresponding quarter end date in the previous year. The Contract can be terminated on 12 months' notice.
© 2014 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.
© 2014 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.