Logo of Alinma Investment
Alinma Investment, the manager of Alinma Retail REIT Fund, announced setting a cap on the fund management fees at 12% of net operating income, according to a filing to Tadawul.
The fund manager added that the amendment includes maintaining the management fees at 0.75% of the fund's net assets value.
The cap will be applied retroactively from the beginning of the fiscal year 2023.
The fund manager will update the fund's terms and conditions, to reflect the change in the mechanism for calculating the management fees (12% of net operating income) as of 2023.
The move is expected to reflect positively on the fund as the improvement in cash flows raises its ability to distribute cash dividends to unitholders.
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