To provide shareholders with an attractive income yield and the prospect of income and capital growth through investing in a portfolio of predominantly UK equities. Asset classes other than equities will be purchased from time to time, will vary as opportunities are identified and will include convertibles, preference shares, fixed income securities and corporate bonds. However, non-equity securities will not constitute the majority of the portfolio. The Company may also use derivatives for the purpose of efficient portfolio management, including reducing, transferring or eliminating investment risk in its investments and protection against currency risk, to exploit an investment opportunity and to achieve an overall return.
Management fee of 0.65% of NA.The fee is calculated monthly and paid quarterly. The contract is terminable on 6 months notice.
Dividends on the Ords are payable quarterly at the end of January, April, July and October. It is intended that the investment policy of the Company generates an income yield that will permit the dividend of Company to grow over time.