Pengana adds fee class to International Fund
Pengana Capital Group Limited has added an additional fee class for the Pengana International Fund, offering 0.65 per cent management fee with a 15 per cent performance fee.
The performance fee would be applied to performance above the MSCI All Country World Index.
This provided an alternative to the existing fee class of 0.974 per cent management fee with no performance.
Russel Pillemer, chief executive of Pengana Capital Group, said the offering of the new fee class for their International Fund was important to meet clients’ needs.
“Advisers are increasingly telling us that they are looking for choice, not only in access to a broader range of investment opportunities and structures than ever before, but also pricing structures to suit their clients’ needs,” Pillemer said.
There would be no changes to the investment strategy which was still led by Jordan Cvetanovski and Steven Glass.
Pengana International Fund performance to date
AUTHOR
Chris Dastoor
Recommended for you
First Sentier Investors chief executive, Mark Steinberg, is set to depart the asset manager after seven years.
Metrics Credit Partners has completed the acquisition of Taurus Finance Group and BC Investment Group as it looks to launch consumer lending arm Navalo.
AMP has announced to the ASX that it is being sued by property fund manager Dexus regarding the sale of its real estate and domestic infrastructure equity business.
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
