23 September 2016
Qatar Investment Fund plc ("QIF" or the "Company")
Investment Manager's contract and Reduced Fee
The Company announced on 19 November 2013 that the Board of the Company and its wholly owned subsidiary Epicure Qatar Opportunities Holdings Limited entered into a revised investment management agreement with its investment manager Epicure Managers Qatar Limited ("EMQL"), a wholly owned subsidiary of Qatar Insurance Company S.A.Q. (the "Revised Investment Management Agreement"), which took effect from 1 November 2013.
The Revised Investment Management Agreement was for a three-year period from 1 November 2013. The revised fee arrangements were a reduced management fee of 1.05% per annum of the net asset value of the Company, calculated monthly and payable quarterly in arrears, with such management fee reducing further to 1.0% from 1 November 2015 for the final year of the agreement.
The Board is pleased to announce that it has reached agreement in principle with EMQL to enter into a new investment management agreement for a three-year period from the date of termination of the existing investment management agreement on 31 October 2016, subject to agreeing the necessary terms and legal documentation, and obtaining any regulatory or other approvals as required.
The proposed revised fee arrangements commencing on 1 November 2016 are a reduced management fee of 0.90% per annum of the net asset value of the Company, calculated monthly and payable quarterly in arrears, with the performance fee arrangements removed in entirety. There will be no change in any other material terms as exist currently.
For further information:
Qatar Investment Fund plc +44 (0) 1624 622 851
Panmure Gordon +44 (0) 20 7886 2500
Maitland +44 (0) 20 7379 5151
William Clutterbuck/Robbie Hynes
Galileo Fund Services Limited +44 (0) 1624 692600
Ian Dungate/Suzanne Jones
This information is provided by RNS