The Merian Chrysalis Investment Company - the first trust launch from Richard Buxton's Merian Global Investors - has announced it will cap certain charges as it embarks upon its first day of dealing.
In a statement, the board said the the investment manager has agreed to cap the investment company's ongoing charge expense ratio at 0.85% for the next 12 months or until the NAV reaches £200m, whichever occurs earlier, to "provide certainty to investors" This fee structure will be subject to review at the end of the 12 month period. The board previously indicated the trust will have an ongoing management fee of 0.5% per annum of its net asset value (with no fee on uninvested cash until 90% of IPO proceeds are deployed). Merian Chrysalis raises £100m amid 'challenging' markets T...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes