Axiom drops fund management fee

Axiom confirms that the 1% management fee will be replaced with a 10% performance fee, which means that investors from now on will only pay fees when the fund delivers positive performance. The performance fee is subject to a high water mark. Investors remain liable for 0.5% administration costs which cover custodial fees and a licence fee to Alix Capital. Axiom says this change in the fee structure has been taken to "better align the interests of investors in the fund and lead the way in developing a new approach to fees for the UCITS industry." Launched in December 2010, the Axiom ...