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Generalist VCTs without performance fees

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
Spet0789
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Generalist VCTs without performance fees

#286092

Postby Spet0789 » February 22nd, 2020, 2:31 pm

I have an aversion to performance fees verging on the religious. They are uncommon in the AIM sector, which I think explains in part the superior performance of AIM VCTs.

Any good generalist VCTs without one? Thanks!

sinterklaas
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Re: Generalist VCTs without performance fees

#288041

Postby sinterklaas » March 2nd, 2020, 2:42 pm

I don't know the definitive answer to this, but it's too good a question to lie around here >1 week without any replies (sorry).

So I'll tell you what I know, which is: I haven't found any.

They all seem to have them, which I think is pretty normal for venture capital. They differ mainly by hurdle. (Sadly they no longer differ much by rate; 20% is becoming fairly commonplace)

scotia
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Re: Generalist VCTs without performance fees

#288048

Postby scotia » March 2nd, 2020, 3:39 pm

sinterklaas wrote:I don't know the definitive answer to this, but it's too good a question to lie around here >1 week without any replies (sorry).

So I'll tell you what I know, which is: I haven't found any.

They all seem to have them, which I think is pretty normal for venture capital. They differ mainly by hurdle. (Sadly they no longer differ much by rate; 20% is becoming fairly commonplace)

Agreed. So it is unusual to see this statement in a VCT KID "This product does not charge any performance fees". But its an AIM VCT (Amati) - not a generalist VCT, which contains this quote.

Spet0789
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Re: Generalist VCTs without performance fees

#288118

Postby Spet0789 » March 2nd, 2020, 10:25 pm

Thanks both. I agree. Performance fees seem the exception for AIM VCTs but the rule for Generalists.


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