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Provide shareholders with a high income and opportunity for capital growth .
A management fee will be payable quarterly in arrears at the rate of 1.0% per annum of the portfolio plus a preformance fee of 10% of the lower amount by which the net asset value plus dividends paid in the year exceeds 10% compounded p.a. and beats the FTSE Small-Cap index by 2%. The management contract is terminable on twelve months notice. Capita Sinclair Henderson provides the administrative and secretarial services, their fee is subject to annual upward adjustments in accordance with the RPI. The administration agreement is terminable on twelve months notice. The Fund is now managed by Chelverton Asset Management.