Herzfeld Credit Income Fund, Inc
For the period ended Jun 17, 2025. Filed Jun 3, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Jun 17, 2025 · Filed Jun 3, 2025
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Contents
EXAMPLES OF INCENTIVE FEE CALCULATION
Incentive Fee Calculations based upon investment income earned (*).
Alternative 1 – Assumptions
| ● | Investment income (including interest, dividends, fees, etc.) – 1.25% |
| ● | Hurdle Rate1 = 2.25% |
| ● | Management Fee2 = 0.3125% |
| ● | Other expenses (legal, accounting, custodian, transfer agent, etc.)3 = 0.20%. |
| ● | Pre-incentive fee net investment income (investment income – (management fee + other expenses)) = 0.7375%. |
**Result:**Pre-incentive net investment income does not exceed hurdle rate, therefore there is no incentive fee.
Alternative 2 - Assumptions
| ● | Investment income (including interest, dividends, fees, etc.) = 3.0%. |
| ● | Hurdle rate = 2.25%. |
| ● | Management fee = 0.3125%. |
| ● | Other expenses (legal, accounting, custodian, transfer agent, etc.) = 0.20%. |
| ● | Pre-incentive fee net investment income (investment income – (management fee + other expenses)) = 2.485%. |
**Result:**The Adviser is entitled to the Incentive fee catch-up = 100%*(2.485-2.25) = 0.235%4
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