clearly all 3 VCTs are similar but does anyone have any view on which is the best? I have been looking a bit today into performance fee hurdles and understand that Northern 1 is 15%, Norther 2 is 12% and northern 3 is 14.2%. On that basis, Northern 1 may be seen as a bit superior?
I think it's the other way around the hurdle is the same in each case (7% max). As I recall (from memory), the 7% assumes fully invested and then it is adjusted downwards depending on the ratio of assets held as qualifying investments and assets held as cash
Therefore Northern 2 has the best (i.e. lowest) performance fee from an investor perspective, see table on performance fees I compiled as part of the comparative analysis on the Albion VCT performance fee
https://drive.google.com/file/d/11B_0y4 ... sp=sharing