Qatar Investment Fund has inked a revised management agreement with its investment manager Epicure Managers Qatar, a wholly-owned subsidiary of Qatar Insurance Company.
The revised agreement is for a three year period from 1 November 2013, according to StockMarketWire report.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe revised fee arrangements are a reduced management fee of 1.05% per annum of the net asset value of the company, calculated monthly and payable quarterly in arrears, with such management fee reducing further to 1.0% from 1 November 2015 for the final year of the agreement.
The management fee has been reduced to lower the overall costs for the company.
The minor changes done to the terms of the performance fee include the effect of accretion of net asset value as a result of buybacks or other returns of capital are excluded from the net asset value used for the performance fee calculation.
Additionally, any dilution from a corporate action such as an issue of new ordinary shares would be added back to the net asset value calculation under the new amendment.
However, all other terms remain unchanged from that of the previous investment management agreement.
