Under the UK AIFM Regime and EU AIFMD, the Company is required to calculate leverage under the two methodologies specified by the Directive, the ‘Gross Method’ and the ‘Commitment Method’. The AIFM has currently set a maximum limit of 200% on the use of leverage based on the Gross Method and a maximum limit of 200% on the use of leverage based on the Commitment Method, which the AIFM considers consistent with the gearing limit set out in the Company’s Investment Policy. As of 31/12/2022, the Company’s current levels of leverage are 156% based on the Gross Method and 156% based on the Commitment Method.
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