Management Fee Summary
For investment management services provided pursuant to the Alternative Investment Fund Managers Directive (AIFMD), including associated risk management monitoring, a fee of 0.35% p.a, payable quarterly, based on the value of the investments (including cash) of the Company together with a fee of £125,000 p.a, plus or minus 0.005% of the value of the investments of the Company, above or below £750 million. Under a Secretarial Services agreement, the manager also receives an annual fee of £46,845. There is no performance fee.
Ongoing Charge including stated management fee
Charges to capital risk
Please note that a portion (60%) of the Company’s expenses are charged to its capital account rather than to its income, which has the effect of increasing income (which may be taxable) whilst reducing its capital to an equivalent extent. This could constrain future capital and income growth.