MONTREAL, July 30, 2013 /CNW Telbec/ - Palos Management Inc. is pleased
to announce changes to the calculation of the performance fees of the
Palos Equity Income Fund (the "Fund") beginning next year.
From January 1, 2014, performance fees will be measured annually. The
current quarterly measurement of the performance fees will be
maintained until that date. This change is beneficial to investors as
the Fund will need to generate superior performance over a longer
period of time before any performance fees are earned. This change
eliminates the chance that the Fund pays performance fees for superior
performance in any particular quarter while the Fund's performance for
the year might have resulted in less or no performance fees being
Also beginning on January 1, 2014, performance fees will only be earned
if the Fund has a positive cumulative total return. Prior to this
change, performance fees were based strictly on relative performance of
Fund to its benchmark which could result in the Fund paying performance
fees even if the Fund's performance over a period was negative.
We believe that both of these changes are beneficial to investors as
they will result in the same or lower performance fees to be paid by
the Fund, the same or lower management expense ratio, and will further
align the interests of investors in the Fund with those of Palos
About Palos Management Inc.
Founded in 2001, Palos Management is a boutique financial management
firm that includes Palos Investment Funds and the Palos Merchant Fund.
Our mission is to constantly earn our clients' trust by growing and
sustaining their wealth through our creative and intelligent approach
to financial management. Palos Management Inc. is headquartered in
SOURCE: Palos Investment Funds
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