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Total Returns on £1000 over
Discrete performance % over
Discrete performance over
Invests in French and Spanish commercial real estate to generate income as well as capital growth potential.
The Management Fee is calculated at 1% p.a. of Gross Assets, adjusted to reflect the current value of the properties, and of assets representing an indirect interest in the property, to the extent that these are not reflected in the consolidated gross assets. The Investment Manager is also entitled to an annual performance fee, which is payable once the annualised Total Shareholder Return in any accounting period exceeds 12%. The Performance fee is calculated with reference to total shareholder return (TSR), whereby the fee is 20% of any excess over an annualised TSR of 12% and then a further 15% of any excess over 20%; the performance fee is subject to a three year high watermark with a minimum threshold of 100 pence. The Management Agreement is for an initial eight year term and may extend for a further eight year term if the Board determine so prior to the seventh anniversary of the Admission.