Group wants to move away from management fee structure based on the value of its assets, which rose more than 10% in first half
African Rainbow Capital Investments , a firm founded by Patrice Motsepe, could halve the fees it pays a team that runs a fund housing its underlying assets as it begins the process of dropping the unpopular management fee structure in the 2023 financial year.
The move comes more than a year after ARC annoyed investors by floating the idea that it would use a portion of nearly R1bn from a rights offer to pay outstanding fees to UBI General Partner for its day-to-day management of the fund...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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