Performance Fee

RNS Number : 1604B

CT Global Managed Portfolio - CMPI

29 September 2022

 

To:  RNS

From:  CT Global Managed Portfolio Trust PLC

Date:  29 September 2022

LEI:   213800ZA6TW45NM9YY31

Performance fee

Since the launch of CT Global Managed Portfolio Trust PLC (the "Company") in 2008, in addition to an annual investment management fee, based on the total assets of each Portfolio, if certain conditions were met, a performance fee has been payable to Columbia Threadneedle Investment Business Limited (the "Manager"). The performance fee, in respect of any one financial year, was capped at 0.35% of the total assets of the relevant Portfolio.

Over recent years, the use of performance fees, which are often complicated and costly, has reduced across the investment trust sector.  The Board and the Manager have discussed the appropriateness of a performance fee and are pleased to have agreed its cessation with immediate effect.  Both the Board and Manager believe this to be in shareholders' best interests and will help simplify and reduce the level of fees incurred by the Company in the future.  

The last performance fee generated and payable to the Manager was in the year to 31 May 2021 and no subsequent performance fee has been accrued.

There will be no change to the annual investment management fee charged by the Manager.

For further information please contact:

Ian Ridge, Columbia Threadneedle Investment Business Limited  0131 718 1010

 

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