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Total Returns on £1000 over
Discrete performance % over
Discrete performance over
To achieve long-term total returns through holding a diversified portfolio of private equity funds, a majority of which will have a European focus.
The Company pays the Manager a quarterly fee, equal to 0.8% p.a. of Shareholders' funds at the end of the relevant quarter. No fee is payable on any investments in any investment trust, collective investment scheme or any other company or fund managed, operated or advised by the Manager or any other subsidiary of Standard Life where there is an entitlement to a fee on that investment. No incentive fee is payable unless the Company's adjusted NAV total return per ordinary share (before any accrual for the incentive fee) has grown by more than 8% compound p.a. over the Incentive Period (the Preferred Return). The incentive fee will be an amount equal to 10% of the growth in the fully diluted NAV total return per ordinary share in excess of the Preferred Return over the Incentive Period multiplied by the adjusted number of ordinary shares in issue. The Manager's appointment may be terminated by either party giving to the other not less than 12 months' written notice.