Baring Emerging Europe trust scraps 10% performance fee

With effect from 31 March

The board of the Baring Emerging Europe trust has agreed to remove the 10% performance fee, leaving the investment management fee unchanged.

The £91.6m trust has stopped charging a performance fee from 31 March, following a review by the board. The fee was equal to 10% of the amount by which the change in the trust's net asset value per share, on a total return basis, exceeded benchmark index returns, with any underperformance being recovered before a fee was payable. Henderson study: Majority of investors support performance fees The board of the trust said: "The board is pleased to announce that agreement has been reached with Barings to remove the performance fee payable with effect from 31 March 2016. "Prior to t...