Symphony International Holdings may ditch management fee as it defends against AVI

AVI called for the removal of the board

Kathleen Gallagher
clock • 1 min read

The board of the £409.1m Symphony International Holders has written to its shareholders outlining steps that it is taking to narrow the discount following a campaign launched by Asset Value Investors (AVI) to remove and replace the board.

Outlining its future plans, director Anil Thadani said the board is "exploring ways to lessen, or eliminate altogether, the fees that Symphony pays" to its investment manager, Symphony Asia Holdings. The letter was vague but said the investment manager was focusing on "a couple of solutions". AVI launched a campaign in April this year stating that an "inherently conflicted" board had failed to protect shareholder interested and the poor performance had "gone on long enough". AVI calls on shareholders to remove Symphony International Holdings' board Shortly after the launch of th...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week