Management Fee Arrangements

RNS Number : 0955C

Polar Capital Global Health Tst PLC

14 October 2020

 

POLAR CAPITAL GLOBAL HEALTHCARE TRUST PLC (the 'Company')

LEI: 549300YV7J2TWLE7PV84

14 October 2020

Management Fee Arrangements

The Board of Directors announces that following discussion with Polar Capital they have agreed a reduction in the management fee charged for managing the portfolio.

The base management fee prior to the revision was 0.85% per annum based on the lower of the market capitalisation and adjusted net asset value.

The revised management fee, which is in place with effect from 1 October 2020, is 0.75% per annum based on the lower of the market capitalisation and adjusted net asset value.

All other terms within the Investment Management Agreement remain unchanged.

The Chairman commented: 'The absolute performance of the Trust has been positive in recent months, but its relative performance has been behind its benchmark. The Board appreciates that Polar Capital has had regard to this and has proposed this material reduction in the management fee rate. The Board remains confident in the Investment Manager's strategic approach to investing in the healthcare market and will report in more detail in the forthcoming Annual Report for the year ended 30 September 2020'.

For further information please contact:

Lisa Arnold - Chairman Polar Capital Global Healthcare Trust Plc Iain Evans Polar Capital Head of Global Distribution Tracey Lago Company Secretary

Tele: 020 7227 2700 Tele. 020 7227 2740 Tele. 020 7227 2742

 

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