REG-Temple Bar Inv.Tst: Change of Investment Manager

Temple Bar Investment TrustAnnouncement

02/11/2020 12:05

2 November 2020

Temple Bar Investment Trust PLC (“Temple Bar” or the “Trust”)

Change of investment manager

Further to the announcement made on 23 September 2020 the Board is pleased to
announce that RWC Asset Management LLP (“RWC”) has been formally appointed
as the Trust’s investment manager.

On 30 October 2020 the Trust entered into an Alternative Investment Fund
Manager’s Agreement (the “AIFM Agreement”) with Link Fund Solutions
Limited (“Link”) under the terms of which (pursuant to a portfolio
management agreement also entered into on 30 October 2020 and to which Temple
Bar is a party (the “Portfolio Management Agreement”)) Link has delegated
portfolio management to RWC.

Under the terms of the Portfolio Management Agreement RWC will be paid a
management fee equal to 0.35 per cent. per annum of the Trust’s total
assets. Furthermore as the Fund is contractually obliged to pay its previous
investment manager, Ninety One Fund Managers UK Limited (“Ninety One”) its
management fee until 20 April 2021 (the date upon which notice previously
served on Ninety One by the Trust would have expired) RWC has agreed that it
will forgo the management fee to which it would otherwise have been entitled
to 30 June 2021 in order largely to defray the fixed costs and expenses
incurred by Temple Bar in connection with the appointment of RWC as the
Trust’s investment manager. RWC’s appointment is for an initial term of 18
months and may thereafter be terminated on 6 months’ notice. The Portfolio
Management Agreement is capable of termination in certain usual circumstances
including in the event that both Nick Purves and Ian Lance cease to be
responsible for the management of the Trust’s assets or otherwise become
incapacitated.

The Board is also pleased to announce that on 30 October 2020 the Trust
appointed the Bank of New York Mellon (International) Limited to act as
depositary in place of HSBC Bank Limited, entered into a fund administration
agreement with Link Alternative Fund Administrators Limited and appointed Link
Company Matters Limited as the new Company Secretary.

Furthermore, the Company’s registered address has changed to Beaufort House,
51 New North Road, Exeter, EX4 4EP.

For further information please contact:

Temple Bar Investment Trust PLC via J.P. Morgan Cazenove
Arthur Copple (Chairman)

J.P. Morgan Cazenove
William Simmonds                               
+44 (0)20 7742 4000

RWC
Gary
Tuffield                                        
+44 (0)20 7227 6025

Montfort Communications                  
RWC@montfort.london
Gay
Collins                                          
+44 (0) 7798 626282
Toto Reissland-Burghart                      +44 (0) 7976
098139 



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