To achieve capital growth and income, both over the long term, through investment predominantly in companies exposed directly or indirectly to Emerging Markets and Frontier Markets worldwide.
Management fee of 0.75% of the TA of the Company. Agreement is terminable by not less than 12 months notice.
The Company will target an annualised dividend yield of a minimum of 4% at launch (based on the Issue Price). Due to the flexibility afforded by the investment trust structure, the Company will have the scope to build a revenue reserve, potentially allowing for progressive dividend payments. It is intended that the Company will build up revenue reserves over time so as to enable the Board to smooth the level of future interim dividend payments where practicable. However, the Company will not (except to the extent permitted by those regulations) retain more than 15% of its income (as calculated for UK tax purposes) in respect of an accounting period. It is our intention to adopt a system of four approximately equal dividends annually, to be paid in January, April, July and October.