Jenson Seed EIS Fund - Clubfinance

26 Jenson Seed EIS FundKey Points 27We believe that given the early stage natureof these Investments, the amount of supportthey will require, the years it may take to realisesome Investments and the need to align theinterests of the Fund Manager and the Investor,an investment by investment performanceincentive is most appropriate.InterestAny interest on Investors monies pendinginvestment by the Fund will be retainedto cover administration costs and notpaid to Investors.No other costsJenson LLP will pay all the costs ofestablishing the Fund, including introductorycommission, payments to facilitate advisercharges, trail commission contracted priorto 30 December 2012, legal and taxationcosts, the preparation of this InformationMemorandum and any other directexpenses incurred.Commission to authorised financial adviserswho advise an Investor to participate in theFund prior to 30 December 2012From our fees, commission may be payableto authorised financial advisers who advisean Investor to participate in the Fund prior to30 December 2012. These may include:• A commission of up to 3% of the amountthat an Investor contributes to the Fundpayable once investments are made(though a commission of up to 3.5%may be payable in respect of earlyContributions as determined by the FundManager and Jenson); and• An annual trail commission of up to0.5% of the amount that an Investorcontributes to the Fund. This would bepayable for up to six years and is cappedat 3% of the amount contributed. Thisamount is paid on an investment byinvestment basis so long as the InvesteeCompany is paying the Monitoring Fee.Commission to authorised non-MiFIDfinancial advisers who advise anInvestor to participate in the Fund after30 December 2012In respect of applications received after30 December 2012 commission may bepayable on the same basis and to the sameextent to authorised non-MiFID financialadvisers who treat their client Investor as anelective professional client in accordancewith COBS 3.5.3 R (1) as having the expertise,experience and knowledge to make his/herown investment decision and to understandthe risks involved in relation to the Fund. TheFund is not subject to MiFID.Facilitation payments to authorisedMiFID financial advisers who advise anInvestor to participate in the Fund after30 December 2012In respect of applications received after 30December 2012 payments which facilitateand which do not unduly influence orrestrict appropriate adviser charges agreedand validated by the client Investor maybe payable to authorised MiFID financialadvisers up to the limits mentioned abovefor so long as and to the extent that thosefacilitation payments can continue to belinked with on-going services provided bythe adviser to the client Investor.The Administrator & Custodian will maintaina register of authorised financial advisersentitled to trail commission and, as the casemay be, on-going facilitation payments, andwill manage the administration of the same.If an Investor changes his/her adviser, he/sheshould inform the Administrator & Custodian ofthe details of his/her new authorised financialadviser, who will be entitled to receive the ongoingpayment instead. Authorised financialadvisers should keep a record of ApplicationForms submitted bearing their stamp tosubstantiate any claim for the above.