* SR commissioned XPM Investment Consulting, an independent investment research consultancy, to review all open EIS offers. XPM profiled 49 EIS funds and averages were taken to arrive at the profile of a typical EIS fund. The research was conducted in July 2019.
** Throughout our research, there was no clear evidence for how long funds keep charging investors for.
*** Performance fee – which is often referred to as “carry” or “carried interest” – is the percentage of fund profits taken by the fund manager as an incentive to build high-performing portfolios for investors.
A performance hurdle is the percentage of capital a fund must return to investors before the fund manager can begin to charge exit fees.
All fees and figures listed in this table are before VAT.
For example, if Access EIS were to return £20,000 on a £10,000 investment, there would be a profit of £10,000. With a performance hurdle of 110%, SR would return £11,000 to investors without charging the exit fee. The 10% exit fee would only be charged on the remaining £9,000 of profit.
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