Baring Emerging Europe, managed by Matthias Siller (pictured) has announced that that an agreement has been reached with Baring Fund Managers Limited to remove the performance fee element of the management agreement with effect from 31 March 2016. Under the previous arrangement, Barings was entitled to a performance fee payable at the rate of 10% of the amount by which the change in the trust’s net asset value per share (on a total return basis) exceeded the benchmark index with any underperformance being recovered before any fee was payable. Prior to this year the last performance fee was paid for the year ended 30 September 2009. As at 31 March 2016 a performance fee of £63,479 had been earned following a period of outperformance and the trust’s board have agreed with Barings that this will be paid. The company says that there is no change to the basic investment management fee which is calculated monthly and payable at an annual rate of 0.8%.
Baring Emerging Europe is scrapping its performance fee : BEE