Polar Capital Technology ditches performance fee

Base management fee also reduced

The Polar Capital Technology trust (PCT) is scrapping its performance fee, having not reached the remuneration hurdle for four years.

Currently, the performance fee is levied when the trust achieves 10% outperformance above the benchmark – the Dow Jones World Technology index – with the payout capped at 1% of net asset value in any one year. As of 1 May 2025 - the start of PCT's next financial year – the performance fee will be removed, with any remaining performance fees due based on the NAV as at 30 April 2025. Polar Capital Technology proposes share split to broaden access for smaller investors Following a review by the board, there will also be an overall reduction in the £4.2bn trust's base management fee, w...