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Investment trust info:
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Sector
Hedge Funds
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Launch Date
24 Mar 2006
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Base Currency
GBX
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Domicile
Guernsey
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Share Price (p)
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Share Type
Ordinary Share
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TIDM
DCLE
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ISIN
GB00B0ZQ9943
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Shares Issued (M)
06
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Market Capital (£M)
6.70
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Gross Assets (£M)
6.82
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Net Assets (£M)
6.82
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TER (%)
1.91
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Last AGM
02 Jun 2010
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Next AGM
02 Jun 2011
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Last Annual Report Date
14 May 2010
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Next due Report Date
31 Dec 2010
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Next due Report Type
A/R
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Objective:
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To maximise medium-term returns in a manner commensurate with acceptable risk management.
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Management Group(s):
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Dexion Capital (Guernsey) Limited
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Dexion Capital (Guernsey) Limited
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Management Contract & Fees:
Dexion Capital (Guernsey) Ltd will be responsible for the management of the Companys portfolio. RMF Investment Management, a subsidiary of Man Group plc will be responsible for the ongoing day to day management of the Companys investment portfolio. The Manager is entitled to receive a fee of 1.5% p.a. of Total Assets attributable to each class of Ords, calculated and payable monthly in arrears (out of which 0.5% will be available as a trail commission to Qualifying Investors holding Shares of the relevant class). A performance fee will be paid equivalent to 10% of the amount by which the value of the year end Total Assets attributable to each class of Ords exceeds the greatest value of the Total Assets attributable to that class of Ords at the end of any previous financial period. The Manager will be responsible for the fee paid to the Investment Adviser (which comprise a portion of both the fixed management fee and the performance fee). The Management Agreement may be terminated by either party giving twelve months notice after the first anniversary of Admission. The Administrator (HSBC Securities Services) provides administration and secretarial services, for these services the Administrator will receive an annual fee at the rate of 0.10% of the NAV of the Company up to GBP 75 million, 0.075% of the next GBP 50 million of NAV, 0.05% of the next GBP 125 million of NAV and 0.03% of the NAV of the Company thereafter payable monthly in arrears and subject to a minimum fee of GBP 50,000 p.a.. The Agreement is terminable by either side on six months notice. The Custodian (Northern Trust Ltd) receives a quarterly fee, payable in arrears, equivalent to an annual rate of 0.07% of NAV of the Company up to GBP 75 million, 0.065% of the next GBP 50 million of NAV, 0.06% of the next GBP 125 million of NAV, 0.05% of the next GBP 250 million of NAV, 0.04% of the next GBP 200 million of NAV and 0.03% of the NAV of the Company thereafter, subject to a minimum annual fee of GBP 18,000. The Agreement is terminable by either party on three months notice.
