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Estimated NAV (p)
Share Price (p)
Total Returns on £1000 over
Discrete performance % over
Discrete performance over
Up to 30 June 2012, the management fee was calculated at an annual rate of 0.65% of the gross assets after deducting current liabilities and reduced to an annual rate of 0.20% on un-invested cash and cash equivalents. There was also a performance fee payable to the Manager if the Companys net asset value outperformed its benchmark by at least 1% per annum on a capital return basis. The amount of the performance fee would be 20% of the Companys outperformance, capped at 0.60% per annum of the gross asset value of the Company at the period end. With effect from 1 July 2012, a new management fee arrangement will be in place. The management fee will be calculated at 0.85% per annum of the Companys gross assets and there will be no performance fee. The Investment Management Agreement is currently terminable by either party on not less than one years notice. In the event of termination on less than the agreed notice period, compensation is payable in lieu of the unexpired notice period.
© 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.