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Alinma Investment Co. announced Alinma Retail REIT Fund’s approval of a non-fundamental change with regard to fees, service charges, commissions and management fees, as follows:
Accordingly, paragraph No. 3 of the fund’s bylaws will be amended so that management fees are calculated at an annual return of 0.75% of its net asset value (NAV).
This is provided that these fees do not exceed 12% of the fund’s operations, are determined based on the performance of each year separately and are paid quarterly to the fund manager.
Management fees will be calculated on a quarterly basis as per this equation: NAV × percentage, the statement noted.
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