The net tangible assets (NTA) per share of the Thorney Opportunities Fund might have fallen 8.8 per cent over calendar 2020, but that didn’t stop it charging investors a performance fee of $5.5 million for the six months to December 31.
Alex Waislitz’s Thorney Opportunities LIC’s performance fee accrual gets reset each financial year.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
