Amati to waive performance fees on VCTs

Future fees due will be waived from 31 August and 31 July respectively. Amati, which also runs the TB Amati UK Smaller Companies fund, said performance fees "are something that some investors may find confusing and add complexity to VCTs as a product set". Amati is currently paid a performance fee if performance is sustained for at least six months. It is due a performance fee of £152,488 in respect of performance on Amati VCT 2 to 31 July 2013, as it had been sustained until 31 January 2014. "The manager believes that, by removing future performance fees, the Amati VCTs will be...