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” https://www.investmentweek.co.uk/4055056/ also highlighted the issues.
By Cliff Weight, Director ShareSoc
DISCLOSURE: The author does not hold shares in Chrysalis Investments