Polar Capital Global Financials trust to cut fees as it extends life cycle
No longer fixed life structure
The current fixed term structure will change to provide all shareholders with a five-year tender offer
The board of the Polar Capital Global Financials trust intends to reduce the management fee on the vehicle as it announces plans to extend the life of the investment trust past the original fixed seven-year term.
Under the proposals, the current fixed term structure will change to provide all shareholders with a five-year tender offer, and the existing commitment to wind up the company by 31 May will be deleted...
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