Premium China Funds reduces fees
Premium China Funds Management (PCFM) has announced a reduction in fees applying to its Premium Asia Fund by 45 basis points, a measure which would sit alongside the removal of the performance fee, the firm said.
PCFM’s executive director and chief investment specialist, Jonathan Wu, said the fee reduction would come into effect on 1 July 2019 with the new financial year.
According to him, despite the positive developments in Asia as a fund’s main investment destination, most Australian portfolios remained under-exposed.
“We regard our decision to reduce the management fee and remove the performance fee as signalling our commitment,” he said.
“The Premium Asia Fund has considerable potential and the capacity to build beyond $1 billion. We believe this measure reflects the current reality and will therefore be favourably received by advisers, investors and analysts.”
The fund aimed to generate returns by combining both capital and income, over a three to five year period by constructing a portfolio of securities providing exposure to the Asia ex-Japan region.
AUTHOR
Oksana Patron
Recommended for you
Record flows into iShares ETFs helped BlackRock’s assets under management reach US$13.5 trillion in the third quarter, but it reported outflows from the APAC region.
Regal Partners has passed $20 billion in funds under management, helped by $723 million in net inflows during the last three months.
Global investment manager Fidante has formed a strategic partnership with a London-based asset manager to secure exclusive distribution rights across the APAC region.
Blackwattle Investment Partners has hired a management trio from First Sentier Investors – who departed amid the closure of four investment teams last year – to run its first equity income offering.
