Cambridge Industrial Trust to slash performance fees
THE manager of Cambridge Industrial Trust (CIT) has decided to amend the calculation method of its performance fees - this will reduce the fees by about half - with immediate effect.
Speaking at the Reit's fifth annual general meeting, the manager said its Tier 2 performance fee will be reduced to 5 per cent (from 15 per cent), effectively cutting the performance fees by up to 50 per cent.
The fee revision has to do with the trust's rather unique method of pegging its performance fees to its share price. In the first half of last year, its counter started at 68.5 cents, broke t…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Swiss watch exports plunge as China and Hong Kong demand dries up
Huawei starts sales of new Pura 70 smartphone amid scrutiny on chips
BP reshapes its leadership team as some executives leave company
Deliveroo returns to order growth on strong international demand
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Danone beats Q1 sales forecasts, keeps 2024 goals