HICL Infrastructure Share News (HICL)

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133.20 0.20 (0.15%)

Bid:

133.00

Ask:

133.40

Spread: 0.40 (0.301%)

Market Cap: £2.49b

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HICL Infrastructure Reduces And Simplifies Management Fee Structure

Tue, 18th Mar 2014 13:20

LONDON (Alliance News) - HICL Infrastructure Company Ltd Tuesday said it has agreed to remove the differentiated and higher annual management fee for assets in construction, as part of its plan to reduce and simplify its management fee structure.

HICL said removing the differentiated and higher annual management fees will mean the fee payable to its investment adviser, InfraRed Capital Partners Ltd, will be the same for all investments, regardless of whether they are operational.

The company also plans to extend the taper in the annual management fee, with incremental investments under management in excess of GBP2.25 billion attracting a lower charge of 0.8% per year.

Other components of the fee structure with InfraRed remain unchanged.

InfraRed charges no performance-related fees and no fees are paid to InfraRed from any of the group's investment entities including any directors' fees earned from investments in its portfolio.

These changes will take effect from April 1.

The stock was trading at 136.77 pence Tuesday afternoon, up 0.47 pence or 0.3%.

By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews