Since the beginning of 2020 changes in the investment management remuneration have been agreed between the Element ONE fund and the investment management company. The success fee from 2020 will be 22%, instead of the previously used 25%, but the Hurdle Rate will be removed, which since 2017 has been set at the ICE LIBOR 1 YEAR USD plus 0.15% (about 2.1% for 2019 year).
For the maximum convenience of clients in determining the NAV of the fund the commission for success will be taken into account in the monthly calculation of the fund's share price. This was made possible thanks to the cancellation of the Hurdle Rate - earlier we had to wait for the end of the year to calculate commissions due to the need to take into account the final average annual rate of LIBOR.
These changes will simplify calculations for customers and further enhance transparency. All changes will be reflected in corporate documents and are available on the RAISON ASSET MANAGEMENT website on the fund page until the first NAV fund calculation in 2020.