European Assets Trust NV Investment management fee amendment (6236W)
November 16 2017 - 2:00AM
UK Regulatory
TIDMEAT
RNS Number : 6236W
European Assets Trust NV
16 November 2017
European Assets Trust NV
Investment management fee amendment
In response to a sustained period of growth in net assets, the
Supervisory Board of European Assets Trust NV ('the Company')
announces an amendment to the basis of calculation of the
investment management fee payable to F&C Investment Business
Limited ("the Investment Manager").
Previously, the Investment Manager received a fee equal to 0.8
per cent per annum of the value of funds under management. This fee
is calculated quarterly and payable in advance. Funds under
management are calculated as the value of total assets less current
liabilities (excluding borrowings) at the end of the preceding
quarter. It excludes the value of any funds managed by the F&C
group and 50 per cent of the value of funds managed by other
managers.
Following this amendment, a tiered management fee will be
introduced. In cases where the value of funds under management
exceeds EUR500 million, the applicable rate over such excess value
will be reduced from 0.8 per cent per annum to 0.65 per cent per
annum.
Funds under management as at close of business on 14 November
2017 were EUR493 million.
For further information contact:
Wilbert van Twuijver, Managing Director
FCA Management BV, Rotterdam +31 (0)10 201 36 25
Scott McEllen
F&C Investment Business Limited, Company Secretary 0207 628 8000
This information is provided by RNS
The company news service from the London Stock Exchange
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