Was relatively benign with just the initial Costa assets, but might be time to watch out for investors - likely the new manager will avail itself of the very generous gravy train for stuffing new assets into VTH:
1.0% of gross acquisition cost 'finders fee' on new assets added (one-off)
1.05% p.a. ongoing rake of gross asset value for new assets
Once again, like BFC there are no disincentives to prevent overpaying for assets and gearing them up.
Déjà vu?
Edit: on a side note, it is interesting that the Responsible Entity seems to have just waved this through without considering if the better outcome for unitholders would have been to just buy out GoFarm and internalise management.
