ARC prepares to unwind fee structure that cost it R213m last year
Group wants to move away from management fee structure based on the value of its assets, which rose more than 10% in first half
17 March 2022 - 11:08
UPDATED 17 March 2022 - 23:29
African Rainbow Capital Investments (ARC), a firm founded by Patrice Motsepe, could halve the fees it pays a team that runs a fund housing its underlying assets as it begins the process of dropping the unpopular management fee structure in the 2023 financial year.
The move comes more than a year after ARC annoyed investors by floating the idea that it would use a portion of nearly R1bn from a rights offer to pay outstanding fees to UBI General Partner for its day-to-day management of the fund...
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