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Total Returns on £1000 over
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Through the management agreement, which is terminable on twelve months notice by either party, the Investment Manager (Renaissance Capital Group) receives an annual fee at the rate of 1.5% of the net asset value of the Companys portfolio, payable quarterly in arrears. No management fee is payable on any cash or near cash investments held by the Fund. Renaissance Capital Group is also entitled to an annual performance fee equivalent to 20% of the amount by which the net asset value of the Fund, together with gross dividends paid or distributions made, exceeds the net asset value of the Fund at the preceding financial year as increased or decreased in line with the movement in the Russell 2000 Index over the same period. No performance fee will be payable in respect of any year where the net asset value is less than either the placing price or the net asset value at the end of the preceding financial year. The Company Secretary (Sinclair Henderson) receives an annual fee of GBP51,480, which is subject to an annual RPI uplift. This agreement is terminable on twelve months notice by either party.
© 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.