Details of the Trust’s fees & charges and how they are calculated
| Fee | Amount |
|---|---|
| Annualised management fee | 0.75% |
| Performance fee | None |
| Ongoing Charges (estimate)* | 1.52% |
*The trust launched on 1 July 2024. As as result, the data and calculations related to ongoing costs are based on using Aberforth Split Level Income Trust plc as a proxy and through the use of estimates.
Under the terms of the management arrangement, the Trust pays an annualised management fee equal to 0.75% of the Trust's total assets. This fee is calculated and payable quarterly in advance. The fee is charged 70% to capital reserves and 30% to the revenue account.
The Trust does not pay a performance fee.
The trust launched on 1 July 2024 with an ongoing charge estimate of 1.52%. As as result, the data and calculations related to ongoing costs are based on using Aberforth Split Level Income Trust plc as a proxy and through the use of estimates.
The definition of Ongoing Charges, per The Association of Investment Companies (AIC), is "A measure, expressed as a percentage of NAV, of the regular, recurring costs of running an investment company". The Trust's Ongoing Charges figure is calculated per the AIC's guidelines and states the total cost of the management fee and other operating expenses, expressed as a percentage of the average published Ordinary Shareholders' net asset value (NAV) over the period.
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