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QuotedData’s morning briefing 13 January 2022

In QuotedData’s morning briefing 13 January 2022:

  • Polar Capital Technology (PCT) is cutting its management fee from 1 May 2022. The tiering of the base fee has been simplified and lower rates agreed. The impact of this change is to reduce the blended ongoing management fee at current asset levels from 0.81% to 0.75%. The new base management fee will be structured over three tiers: 0.80% on NAV up to £2bn, 0.70% between £2bn and £3.5bn, and 0.60% on the balance. It was 1.00% up to £800m, 0.85% between £800m and £1.6bn, 0.80% between £1.6bn and £2.0bn, and 0.70% on NAV above £2.0bn.
  • BMO Private Equity Trust (BPET) says that it has been advised that a shareholder is proposing to sell in aggregate 2.8m shares in the company (about 3.8%). Singer Capital Markets (the broker) is working with the potential seller in respect of the sale. The current intention is to conclude the sale by no later than 21 January 2022. Institutions and other professional investors should contact Singer Capital Markets to express an interest. The company will not receive any proceeds from any sale of shares.
  • Global Resources has renamed itself GRIT Investment Trust, the ticker is unchanged. There is absolutely no connection between it and GRIT Real Estate (GR1T).
  • LXI REIT’s (LXI’s) chairman Stephen Hubbard and senior independent director Colin Smith will step down from the board ahead of the group’s 2022 AGM. Both have been on the board since the group’s IPO in February 2017. Cyrus Ardalan is now the company’s chairman designate and will take over at a date to be confirmed prior to the AGM. Hugh Seaborn will take over from Colin Smith as senior independent director. Additionally, the group has appointed Ismat Levin as a non-executive director.

We also have a financing update from Infrastructure India, expansion plans for HydrogenOne and Digital 9, and results from BlackRock Income & Growth

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