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Total Returns on £1000 over
Discrete performance % over
Discrete performance over
The management fee shall be calculated at an annual rate of 0.5% of the adjusted market capitalisation. The management fee accrues daily and is payable in arrears in respect of each calendar month. The performance fee will be 15% of the growth of the adjusted net asset value per share in excess of a hurdle of 3 month LIBOR plus 2%. The management contract is subject to termination by the Company on six months' notice.