Management Fees Update
The Board of Fidelity Asian Values PLC would like to inform Shareholders that, following Fidelity’s announcement in October last year to offer its clients a variable management fee, the Board has accepted a new fee proposal from the Manager.
The new model will replace the Company’s current tiered fee structure (0.90% of gross assets up to £200 million; 0.85% on gross assets over £200 million). The new fee will reduce the headline base management fee from 0.90% of gross assets to 0.70% of net assets per annum with a +/- 0.20% variation based on performance relative to the Comparative Index. The maximum fee that the Company will pay will be 0.90% of net assets, but if the Company underperforms against the Comparative Index, the overall fee could fall as low as 0.50% of net assets.
This new fee arrangement will be effective from 1 August 2018. There will be no change in the investment process as a result of the new fee arrangement.