Leverage Income definition
Leverage Income means:
Leverage Income means: (gross income of the fund for such month) x (% of Fund’s average daily total assets represented by leverage as of the last day of such month) - (interest and other borrowing expenses associated with leverage for such month)
Examples of Leverage Income in a sentence
Appendix A of the Agreement is deleted and replaced in its entirety as follows: The investment advisory fee payable by the Trust shall be computed and paid monthly in an amount equal to the sum of 0.65% of the Trust’s average daily net assets and, in addition, the Fund shall pay the Advisor monthly a fee equal to 20% of the Fund’s Leverage Income; provided, however, if the Fund’s Leverage Income is less than zero then the Advisor shall pay the Fund 20% of the Fund’s Leverage Income.