Premier acquires Eastern Enterprise fund from Solus

purchase

Premier Asset Management has acquired the £63m Solus Eastern Enterprise fund, which it will turn int...

Premier Asset Management has acquired the £63m Solus Eastern Enterprise fund, which it will turn into an Oeic version of the Pacific Income Trust. The fund will be managed by Richard Muckart, who is head of Asian equities at Premier. The transfer is to be made with no tax liabilities to existing Oeic shareholders, but the deal has cost Premier 3% of the fund's NAV. The annual management charge of 1.5% will stay the same after the move but the initial charge will increase from 3.5% to 5.25% at Premier. The minimum investment limit will also increase, from £500 to £1,000, which is the s...