Chrysalis reduces performance fee

Down to 12.5%

The board of Chrysalis and Jupiter have agreed to reduce its performance fee from 20% to 12.5%, subject to shareholder approval.

In a London Stock Exchange notice published today (30 November), the board said the decision had been made "in order to ensure long term alignment between the management team and Chrysalis shareholder interests". The current performance fee is 20% of absolute gains, based on an NAV total return over a hurdle rate of 8% per annum compound. The investment trust has endured a tough 2022, experiencing a near 10% decline in its net asset value since June, a downturn mainly driven by its private equity holding, according to the management's latest results. Year-to-date, Chrysalis Investm...