to provide shareholders with an attractive return, while limiting downside risk, through investment in regulatory capital instruments, other financial institution investment instruments and cerivative instruments. The Company focuses primarily on investing in the secondary market although instruments have been, and may also in the future be, subscribed in the primary market where the Investment Manager, Axiom Alternative Investments SARL (Axiom), identifies attractive opportunities.
Management fee of 1% of NAV p.a where NAV is less than or equal to GBP250m 0.8% of NAV plus GBP0.5m where NAV is greater than GBP250m but less than or equal to GBP500m 0.8% of NAV where NAV is greater than GBP500m. Performance fee, if any, will be equal to 15%.
The Company will target a net total return on invested capital in excess of 10%. p.a. over a seven-year period. It is the Company’s policy to seek to pay a dividend of 6 pence per Share per annum. Dividends are declared in March, June, September and December and paid in April, July, October and January in each year.