Kiwi Income Properties says that it will review its fund management fees.
Monday, January 24th 2005, 2:12AM
by The Landlord
KIPL has also elected to waive the management fee associated with the trust's current 19.9% investment in Capital Properties.
"We have received very positive feedback from our unit holders regarding the overall performance of the trust. However, unit holders have also indicated that they would like to see better alignment between management fees and unit holder interests given the scale of the trust," Kiwi chief executive Angus McNaughton said.
He says the review should be completed by the end of March.
"In the meantime, until the review has been undertaken, we have decided to waive the fees due to Kiwi on the Capital Properties holding. We believe this will be positively received by investors in light of the stake being regarded as an investment rather than an asset directly managed by Kiwi," he said.
