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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