Frostrow Capital LLP receives a periodic fee equal to 0.30% p.a. of the Company’s market capitalisation up to GBP 150 million of such market capitalisation and 0.20% per annum on market capitalisation in excess of GBP 150 million plus a fixed amount equal to GBP 50,000 p.a. Investment Manager is also entitled to the payment of a performance fee. The performance fee amounts to 16.5% of any out-performance of the NAV over the benchmark index. At each quarterly calculation date any performance fee payable is based on the lower of: (i) the cumulative out-performance of the investment portfolio over the benchmark index as at the quarter end date; and (ii) the cumulative out-performance of the investment portfolio over the benchmark as at the corresponding quarter end date in the previous year.

Many thanks for that info John. It looks like Hansa was called Finsbury Trust from 1992 to 2001 and prior to that, it was known as Scottish & Mercantile.

I’ve since come across another one called Close Finsbury Eurotech Trust which was launched in August 2000 (not great timing for a technology trust) and that only raised some £30m when it first listed.

It ended up being liquidated after its shareholders decided to wind it up at the end of 2006. From what I can tell, it launched at £1 but hit 25p within its first year and a low of 12p a year after that. It did recover to around 40p but shareholders seemed to have had enough at that point.

So not all the Finsbury trusts have done as well as WWH, BIOG, ATT, and FGT!