UBI GENERAL PARTNER
Motsepe’s ARC grasps the nettle of fees for fund manager a year early
The group had been due to review its controversial management fee in 2022, but says current global and SA market conditions have brought this forward
African Rainbow Capital (ARC), the investment house backed by Patrice Motsepe, has brought forward by a year the review of fees it pays a team that runs a fund housing its underlying assets.
The review comes almost a year after the company angered investors for floating the idea that it would use a portion of the R750m proceeds from a rights offer to pay outstanding fees to UBI General Partner for its day-to-day management of the fund...