The Company will invest in a broad portfolio of unquoted growth and technology businesses. Allocation of assets will be determined by the investment opportunities which become available but efforts will be made to ensure that the portfolio is diversified in terms of sectors and stages of maturity of portfolio companies.
Management fee 2.5% of NAV p.a. If NAV plus aggregate div per ord exceeds GBP1 as increased at 8% since commencement of trading, performance fee 20% of such excess. Total annual expenses, including the management fee, are limited to 3.0% of the NAV. Contract is terminable on 12 months notice.
The Company will not retain more than 15% of the gross income it derives from shares and securities. It is also the policy of the Company to distribute the majority of realised capital profits by way of capital dividends. The Company will pay dividends twice a year in November and May. Shareholders are entitled to receive dividends and the return on capital on winding up or other return on capital based on the surpluses attributable to the shares.