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Total Returns on £1000 over
Discrete performance % over
Discrete performance over
The Management fee is calculated at the rate of 0.65% p.a. by reference to the Company's gross funds under management. A performance-related fee is payable annually in arrears, if the Company's NAV performance exceeds the benchmark index performance. The performance-related fee is equal to 12.5% of the value of outperformance, but may not exceed 1% of the value of the Company's average funds under management. Any performance related fee is based on the outperformance over the benchmark index after taking into account any previous underperformance. The management agreement is terminable by either party on six months' notice.