To provide Shareholders with an attractive total return through capital growth and income by investing predominantly in UK equities. The Company aims to invest in a concentrated portfolio of undervalued companies which are expected to be predominantly, but not exclusively, listed or quoted on UK markets (usually the Official List or AIM) and which have a typical market capitalisation of between £100 million and £1,000 million. Following investment, the Company and its advisers will also typically engage with the management of those companies with a view to enhancing value for all their shareholders.
A management fee of 2% applied to the Market Cap of the Company at GBP 73.5 m the Base Amount.Tthe applicable fee rate on the Base Amount will be 1.5%. The performance fee is 20% of the excess of the NAV per Ord. The contract is terminable on 12 month notice.
The dividend policy is to distribute to shareholders, as a dividend, a proportion of the income received from the portfolio holdings of Company. Dividends are paid semi-annually. The annual target dividend is 5p per share., but there can be no guarantee as to the timing and amount of any distribution payable by the Company.