The investment objective of the company is to achieve attractive total returns per share principally through capital growth over a long term period. The company will primarily invest in smaller company equities quoted on markets operated by the London Stock Exchange, where the Portfolio Manager believes the securities are trading below intrinsic value and where this value can be increased through strategic, operational, management and/or financial initiatives.
Management fee is calculated by 1% p.a. of the NAV and 1% p.a. of the market cap of the company. Performance fee will be entitled to 10% of the Excess Amount multiplied by the time weighted average number of Ords. Agreement for an initial term of 12 months, terminable by giving not less than 6 months notice.
The company has no stated dividend target. The investment objective is one of capital growth and it is anticipated that returns for shareholders will derive primarily from capital gains. the company will not retain more than 15% of its income in respect of any accounting period. As such, the company may declare a dividend from time to time.