Services and fees

Investment Manager

Evans and Partners Investment Management Pty Limited is the Investment Manager of the Fund.

The Investment Manager will charge an investment management fee of 1.25% per annum (inclusive of GST and net of RITC) of the gross asset value of the Fund.

In addition, the Investment Manager may be entitled to a performance fee, payable by the Fund. Performance fees are calculated with reference to the higher of the return (expressed as a percentage) of the MSCI World Net Total Return Index over the Calculation Period (Index Return Hurdle) and the published 10-year US Government Bond yield (Absolute Return Hurdle) and are subject to a High Water Mark requirement (which can be reset in certain circumstances) and an overall cap.

The Fund’s total return per Unit (Total Return) is the dollar movement in its NAV per Unit during the Calculation Period (adjusted for any income or capital distributions and before any accrued performance fees during that Calculation Period). The Fund’s excess return per Unit (Excess Return) is its Total Return less the higher of the Index Return Hurdle and Absolute Return Hurdle, expressed in dollar terms. The performance fee per Unit is 10% of the Excess Return (inclusive of GST and net of RITC).

Responsible Entity

Walsh & Company Investments Limited is the Responsible Entity of the Fund.

The Responsible Entity is responsible for the overall management of the Fund, including the determination of its strategic direction with the aim of increasing Unitholder wealth through the performance of the Fund.

The Responsible Entity will charge a responsible entity fee for the operation of the Fund of 0.10% per annum (inclusive of GST and net of RITC).