European Assets Trust NV
Investment management fee amendment
In response to a sustained period of growth in net assets, the Supervisory Board of European Assets Trust NV ('the Company') announces an amendment to the basis of calculation of the investment management fee payable to F&C Investment Business Limited ("the Investment Manager").
Previously, the Investment Manager received a fee equal to 0.8 per cent per annum of the value of funds under management. This fee is calculated quarterly and payable in advance. Funds under management are calculated as the value of total assets less current liabilities (excluding borrowings) at the end of the preceding quarter. It excludes the value of any funds managed by the F&C group and 50 per cent of the value of funds managed by other managers.
Following this amendment, a tiered management fee will be introduced. In cases where the value of funds under management exceeds €500 million, the applicable rate over such excess value will be reduced from 0.8 per cent per annum to 0.65 per cent per annum.
Funds under management as at close of business on 14 November 2017 were €493 million.
For further information contact:
Wilbert van Twuijver, Managing Director
FCA Management BV, Rotterdam +31 (0)10 201 36 25
Scott McEllen
F&C Investment Business Limited, Company Secretary 0207 628 8000
