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Summary of Letter & Changes to Investor Agreement
- Fund closing date of 5 April 2017 removed due to popularity and pipeline of potential investments
- The AMC & Secretarial Charge will accrue from 21 December 2018 – none has been charged prior to this date. From year two onwards, the AMC and Secretarial Charge will be recouped from the proceeds of the sale of investments and/or income received. The AMC will be shared between Foresight and Williams in proportions that they agree. Note that the rates of fees and charges has neither increased nor decreased
- We have appointed NCM Depositary Services Limited to act as depositary for the Fund.
- Introduction of the “Promoter” (essentially the Foresight entity that the Sales Team operate under) Note this does not affect the current charges
- The allocation policy has been amended so that investments can be allocated according to three factors:
- Value of the initial subscription
- Date of the initial subscription
- Value of the remaining subscription at the time of investment
The increased flexibility allows Foresight to allocate investments to meet the two-year investment period for each investor where required.
- Foresight Group LLP has taken back the role of Administrator to the Fund