Set up and management fee
A one-off initial fee of 10% of subscriptions up to and including £50,000, 5% on any amount thereafter is payable to the Investment Manager. This will cover the set up and on-going operation of the Fund. There is no annual charge or additional costs.
Hurdle and performance fee
Performance fees of 20% will be payable to the Investment Advisor on aggregate proceeds arising from an investment after a hurdle equating to a 1.1x return on gross subscriptions invested.
In other words, after each Investor receives £1.10 for every £1 subscribed, a performance fee equal to 20% of any further returns (plus VAT) will be payable to the Investment Advisor.
Costs and expenses
None. However investor requests over and above the day-to-day running of the Fund, for example transfer of stock, will be charged to the investor on a per fee basis.
All the above fees are exclusive of any applicable VAT.