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Total Returns on £1000 over
Discrete performance % over
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To provide its shareholders with regular dividends, at levels that are sustainable, whilst preserving the capital value of its investment portfolio, utilising the investment skills of the Investment Manager.
The Investment Manager will receive an annual fee of 0.75% for NAV lower than £ 1,000m; 0.7% for assets between £ 1,000m and £ 2,000m; 0.65% for assets greater than £ 2,000m p.a., payable quarterly in arrears. No performance fee will be payable to the Investment Manager. The Investment Management Agreement is terminable by either the Investment Manager or the Company giving to the other not less than six months written notice. It is currently expected that administration and custody fees will not exceed 0.2 % of NAV in any year.