According to a stock exchange announcement, previously, Baring Fund Managers was entitled to a performance fee of 10% of the amount by which the company’s NAV per share exceeded the benchmark index with any underperformance recovered before the fee is payable.
The removal of the fee is effective from 31 March 2016, at which date a final performance fee of £63,479 had been earned and which will be paid.
Prior to this year the last performance fee was paid for the year ended 30 September 2009, the board said.
There are no other changes to the trust’s fee structure.
