Amendment: Investment Management Agreement & Fees

RNS Number : 1867N

CQS New City High Yield Fund Ltd

23 September 2019

 

CQS New City High Yield Fund Limited

Amendment to Investment Management Agreement and Fee Arrangements

23 September 2019

Previously under the terms of an investment advisory agreement dated 22 July 2014 and a novation agreement dated 1 October 2015, the Company has appointed CQS Cayman Limited Partnership as its Investment Manager and CQS Cayman Limited Partnership has, with the agreement of the Board, delegated that function to CQS (UK) LLP.

The Company has with effect from 18 September 2019 entered into a new Investment Management Agreement to appoint CQS (UK) LLP Limited as its Investment Manager and the previous investment advisory agreement with CQS Cayman Limited partnership has been terminated.

The management fee has previously been charged at a rate of 0.80% per annum, paid monthly in arrears, on the Company's Adjusted Total Assets up to £200 million and 0.70% per annum thereafter.

With effect from 18 September 2019 the management fee will be charged at a rate of 0.80% per annum, paid monthly in arrears, on the Company's Adjusted Total Assets up to £200 million, 0.70% per annum on Assets in excess of £200 million, and up and including £300 million, and 0.60% per annum thereafter.

For further information please contact:

Craig Cleland

New City Investment Managers

0207 201 5368

Kerry Higgins

Maitland Administration Services

01245 398 950

 

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