This blog gives you the latest topical news plus some informal comments on them from ShareSoc’s directors and other contributors. These are the personal comments of the authors and not necessarily the considered views of ShareSoc. The writers may hold shares in the companies mentioned. You can add your own comments on the blog posts, but note that ShareSoc reserves the right to remove or edit comments where they are inappropriate or defamatory.

Investment Trust fees – should they be based on market cap or NAV?

The views expressed in this article are those of its author and not necessarily those of ShareSoc.

Should Investment Trusts (including VCTs)  base their fees on market cap and not Net Asset Value?

In the case of of Chrysalis Investments (CHRY), the 58% discount to NAV means the 0.77% fees as a % of NAV are in excess of 1.5% of market cap, which in my opinion is egregious:


A story in Investment Week “Chrysalis managers stand by unlisted holdings” also highlighted the issues.

By Cliff Weight, Director ShareSoc

DISCLOSURE: The author does not hold shares in Chrysalis Investments

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