Premium cuts fees
Premium China Funds Management has announced fee reductions on its Premium Asia Fund.
Friday, March 15th 2019, 6:00AM
Executive director Jonathan Wu said it would cut the fee by 45 basis points.
Performance fees would also be removed.
The change will take effect on July 1.
Wu said that PCFM recognised that despite the positives of Asia as an 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,” Wu 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,” he said.
The Premium Asia Fund aims to generate positive returns, consisting of both capital growth and income, over a three- to five-year period by constructing a portfolio of securities providing exposure to the Asia ex-Japan region. The investment manager is Value Partners Hong Kong Limited. Launched in December 2009, the Premium Asia Fund has produced 11.1%p.a. net of fee returns as at February 2019.
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