Temple Bar Investment Trust Plc - Change of Investment Manager
Temple Bar Investment Trust PLC (“Temple Bar” or the “Trust”)
Change of investment manager
Further to the announcement made on the Board is pleased to announce that RWC Asset Management LLP (“RWC”) has been formally appointed as the Trust’s investment manager.
On the Trust entered into an Alternative Investment Fund Manager’s Agreement (the “AIFM Agreement”) with Link Fund Solutions Limited (“Link”) under the terms of which (pursuant to a portfolio management agreement also entered into on and to which Temple Bar is a party (the “Portfolio Management Agreement”)) Link has delegated portfolio management to RWC.
Under the terms of the Portfolio Management Agreement RWC will be paid a management fee equal to 0.35 per cent. per annum of the Trust’s total assets. Furthermore as the Fund is contractually obliged to pay its previous investment manager, Ninety One Fund Managers UK Limited (“Ninety One”) its management fee until (the date upon which notice previously served on Ninety One by the Trust would have expired) RWC has agreed that it will forgo the management fee to which it would otherwise have been entitled to in order largely to defray the fixed costs and expenses incurred by Temple Bar in connection with the appointment of RWC as the Trust’s investment manager. RWC’s appointment is for an initial term of 18 months and may thereafter be terminated on 6 months’ notice. The Portfolio Management Agreement is capable of termination in certain usual circumstances including in the event that both and cease to be responsible for the management of the Trust’s assets or otherwise become incapacitated.
The Board is also pleased to announce that on the Trust appointed the Bank of New York Mellon (International) Limited to act as depositary in place of HSBC Bank Limited, entered into a fund administration agreement with Link Alternative Fund Administrators Limited and appointed Link Company Matters Limited as the new Company Secretary.
Furthermore, the Company’s registered address has changed to Beaufort House, , , EX4 4EP.
For further information please contact:
via J.P. Morgan Cazenove
(Chairman)Temple Bar Investment Trust PLC
William Simmonds +44 (0)20 7742 4000J.P. Morgan Cazenove
Gary Tuffield +44 (0)20 7227 6025RWC
Gay Collins +44 (0) 7798 626282
Toto Reissland-Burghart +44 (0) 7976 098139 Montfort Communications [email protected]
Quick facts: Temple Bar Investment Trust
Market Cap: -
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE