GLG reviews GEM fund charging structure

GLG Partners has extended its '1 and 20' charging structure to include its Global Emerging Markets fund.

The fund, managed by Bart Turtleboom and Karim Abdel-Motaal, will from next year introduce a fee of 1% AMC. Once £150m has been raised under the new structure, GLG will launch a replacement share class with 1% AMC and 20% performance fee over the benchmark. The revised charge replaces a current AMC of 1.75%. GLG says as part of the move the £28.5m fund will also adopt a more benchmark-aware, rather than benchmark-driven, approach to investing in emerging markets. The firm launched its 1 and 20 fee approach with the UK Select fund in August. GLG joint head of UK retail Andrew Th...