Pacific Assets trust scraps performance fee

Alice Rigby
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The board of the Pacific Assets trust, managed by First State's Asia team, will scrap its performance fee, following the lead of a number of other vehicles in the closed-ended space.

From 1 February, the annual management fee on the £186m trust will be 0.9%. The previous fee structure included a base fee of 0.75% of the trust's assets plus a performance fee of 12.5% of any returns...

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