The current investment strategy of the company is: To identify attractive asset classes and investment strategies; to identify asset managers it believes to be superior; to use the market experience of the investment manager of Tetragon to negotiate favourable terms for its investments; to own, where appropriate, all, or a portion of, asset management companies with which it invests in order to enhance the returns achieved on its capital.
Management fee of 1.5% p.a. of the NAV payable monthly in advance prior to the deduction of any accrued incentive fees. The Issuer will also pay an incentive fee equal to 25% of the increase in the NAV above i the reference NAV plus ii the hurdle for the period.
Tetragon seeks to return value to its shareholders, including through dividends and share repurchases. Tetragon Board of Directors has the authority to declare dividend payments, based upon the recommendation of Tetragon investment manager, subject to the approval of Tetragon voting shareholder and adherence to applicable law, including the satisfaction of a solvency test as required pursuant to the Companies (Guernsey) Law, 2008, as amended. In addition to making divided recommendations to the Board of Directors, Tetragon investment manager may authorise share repurchases. Decisions with respect to declaration of dividends and share repurchases may be informed by a variety of considerations, including (i) the expected sustainability of the Company cash generation capacity in the short and medium term, (ii) the current and anticipated performance of the Company, (iii) the current and anticipated operating and economic environment, (iv) other potential uses of cash ranging from preservation of the Company investments and financial position to other investment opportunities and (v) Tetragon share price. Tetragon may also pay scrip dividends, which payments are currently conducted through an optional dividend reinvestment program.