Pengana adds fee class to International Fund
Pengana Capital Group Limited has added an additional fee class for the Pengana International Fund, offering 0.65 per cent management fee with a 15 per cent performance fee.
The performance fee would be applied to performance above the MSCI All Country World Index.
This provided an alternative to the existing fee class of 0.974 per cent management fee with no performance.
Russel Pillemer, chief executive of Pengana Capital Group, said the offering of the new fee class for their International Fund was important to meet clients’ needs.
“Advisers are increasingly telling us that they are looking for choice, not only in access to a broader range of investment opportunities and structures than ever before, but also pricing structures to suit their clients’ needs,” Pillemer said.
There would be no changes to the investment strategy which was still led by Jordan Cvetanovski and Steven Glass.
Pengana International Fund performance to date
AUTHOR
Chris Dastoor
Recommended for you
Lonsec and SQM Research have highlighted manager selection as a crucial risk for financial advisers when it comes to private market investments, particularly due to the clear performance dispersion.
Macquarie Asset Management has indicated its desire to commit the fast-growing wealth business in Australia by divesting part of its public investment business to Japanese investment bank Nomura.
Australia’s “sophisticated” financial services industry is a magnet for offshore fund managers, according to a global firm.
The latest Morningstar asset manager survey believes ETF providers are likely to retain the market share they have gained from active managers.
