Castelnau Group Revamps Performance Fee Structure

Castelnau Group Limited (GB:CGL) has released an update.

Castelnau Group Limited has updated its performance fee arrangements with Phoenix Asset Management Partners, transitioning from an average net asset value to a closing net asset value calculation for clearer alignment between the company, its shareholders, and the manager. The revised terms focus on three-year consecutive performance periods with fees paid in new ordinary shares, reflecting true outperformance against the FTSE All-Share Total Return Index. These adjustments aim to ensure fairness and equitable interest alignment without changing other aspects of the original investment management agreement.

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