The Phoenix UK Fund has an annual management fee of 1%. We earn a performance fee of 20% of profits once the Fund has risen by inflation for the year. Inflation is calculated using UK CPI.
We operate a high water mark system for the performance fee. That means, if the price of the Fund has fallen, we don’t earn performance fees again until the Fund price has returned to its previous peak. This high water mark moves up by inflation every year.
To properly understand the structure of the Phoenix UK Fund please read the Offering Memorandum or please contact us.