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Total Returns on £1000 over
Discrete performance % over
Discrete performance over
The Company will pay no management fees to HgCapital in respect of its holdings of cash or liquid assets. The Company pays a fee of 1.5% p.a. on the current value of its existing private equity portfolio, excluding investments in other collective investment funds. The Company also pays charges in respect of its commitment to invest alongside HgCapital, HgCapital 6 and HgCapital Mercury funds. These charges are the same as those payable by all institutional investors in these Funds. Amounts of 1.75% and 2.00% per annum respectively are payable on the commitments during the investment period of these funds, which is expected to last for between four and five years. The charge will then reduce to 1.5% p.a. calculated on the basis of the original cost of the assets, less the original cost of any assets which have been realised or written off. The Manager is entitled to a carried interest, in which the executives of HgCapital participate. This arrangement allows for a carried interest of 20% of the excess annual growth in average NAV over an 8% preferred return, based on a three year rolling average NAV, calculated half-yearly and aggregated with any dividends declared by the Company in respect of that financial year. In respect of the Company's investment alongside HgCapital 6, this incentive scheme will be replaced by a carried interest arrangement identical to that which applies to all other investors in HgCapital 6. Under this arrangement, HgCapital will receive 20% of aggregate profits after the repayment to the Company of its invested capital and the payment of a preferred return thereon of 8% p.a.. HgCapital has been appointed as Secretary and administrator of the Company for a fee equal to 0.1% of NAV.