6 Apr 2016 07:00
BARING EMERGING EUROPE PLC - Performance FeeBARING EMERGING EUROPE PLC - Performance Fee
PR Newswire
London, April 6
BARING EMERGING EUROPE PLC
Performance Fee
The Board is pleased to announce that agreement has been reached with Baring Fund Managers Limited (“Barings”) to remove the performance fee payable with effect from 31 March 2016. Under the previous arrangement Barings was entitled to a performance fee payable at the rate of 10% of the amount by which the change in the Company’s net asset value per share (on a total return basis) exceeded the benchmark index with any underperformance being recovered before any fee was payable. Prior to this year the last performance fee was paid for the year ended 30 September 2009. As at 31 March 2016 a performance fee of £63,479 had been earned following a period of outperformance and we have agreed with Barings that this will be paid.
There is no change to the basic investment management fee which is calculated monthly and payable at an annual rate of 0.8%.”
6 April 2016