The investment objective of the UK Equity Portfolio is to provide shareholders with an attractive real long-term total return by investing primarily in UK quoted equities. The UK Equity Portfolio is invested primarily in UK equities and equity-related securities of UK companies across all market sectors.
Management fee 0.55% p.a. of net assets. Performance fee 0.55% of the increase in NA per relevant share in excess of a hurdle of the benchmark plus 1% p.a.. The amount of the performance fee payable in any one year will be limited to 0.55%. Contract terminable on 6 months notice.
It is proposed that for this share class the company move to a model of three equal interim dividends in July, October and January with a wrap-up fourth interim in April. Depending on the level of income received in the relevant quarters, some of the three equal dividends may be enhanced with contributions from capital to achieve this. However, it is intended that total dividends over the course of a year will not be materially different from revenue earnings per share of that year .