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Total Returns on £1000 over
Discrete performance % over
Discrete performance over
The Company pays to the Manager a management fee which is equal to 1/12th of 1.75 percent of the total market capitalisation of the Company per month. The management fee is calculated and accrued as at the last business day of each month and is paid monthly in arrears. The Manager may in certain circumstances also be entitled to be paid a performance fee which is 15 per cent of the total increase in the Net Asset Value ,if the Net Asset Value at the end of any Performance Period exceeds the Hurdle as at the end of the Performance Period. The performance fee is subject to adjustments for any issue and/or repurchase of Ordinary Shares. No further performance fee will be accrued or paid until the Net Asset Value exceeds 94,720,839 (132.0p per share) as adjusted for further issues and repurchases of shares. The management agreement may be terminated on 12 months' notice.