The Board of Pacific Assets Trust has announced that, with effect from 1 February 2015, the management fee will be changed to 0.9% of net assets and there will no longer be a performance fee. Previously the fee was 0.75% plus a 12.5% performance fee of 12.5% on outperformance of MSCI All Country Asia ex Japan Index plus a hurdle of 1.75% over a rolling three year period.
The Board has also announced that, with effect from 1 February 2015, the annual fee payable to Frostrow Capital (which provides the Company with management, administrative and secretarial support) will change from being 0.2% of market cap. to 0.15% of the first £275m of NAV 0.1% on the excess.
PAC : Pacific Assets changes fee arrangements
