Kames scraps performance fee on UK Absolute Return but ups AMC

Kames Capital is to remove the performance fee on its Kames UK Equity Absolute Return fun, managed by David Griffiths and David Pringle, after reaching £100m in size.

In April last year the group decided to waive the 20% fee for the rest of the year to boost the attractiveness of the fund versus its competitors in the Absolute Return sector. The group intended to re-introduce a lower performance fee at the start of this year, but has now scrapped the plans and the fee entirely. Instead of a performance fee, Kames is planning to raise the annual management charge (AMC) on the fund by five basis points, from 0.75% to 0.80% on the B share class and from 1.5% to 1.55% on the A share class, to reflect the additional costs associated with running absolut...