Management Fees

The Manager will receive a monthly management fee of 0.083333% of the Portfolio Value which is equivalent to 1.0% per annum. This fee will be calculated and paid monthly in arrears. In addition, where the Portfolio Value has increased over a 12 month period to 30 June by more than 7% (before fees and taxes), the Manager will be entitled to a performance fee.  The amount payable under the Performance Fee will be 20% of the increase in value of the Portfolio in excess of 7% (before fees and taxes).

Management Fees

The Manager will receive a monthly management fee of 0.083333% of the Portfolio Value which is equivalent to 1.0% per annum. This fee will be calculated and paid monthly in arrears. In addition, where the Portfolio Value has increased over a 12 month period to 30 June by more than 7% (before fees and taxes), the Manager will be entitled to a performance fee.  The amount payable under the Performance Fee will be 20% of the increase in value of the Portfolio in excess of 7% (before fees and taxes).