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.
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