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KKR Asset-Based Income Fund Extends Fee Reduction and Eliminates Early Repurchase Charge
Blue Vault reports two changes at KKR Asset-Based Income Fund following its conversion to an interval fund. KKR removed the 5% charge previously applied to repurchases within a shareholder's first year and extended a reduction in the management fee from 0.50% to 0.35% of month-end net assets.
The reduced fee now lasts until the later of May 3, 2031, or attainment of $3 billion in net assets; the earlier asset threshold was $1 billion. Eliminating the early charge lowers a transaction cost but does not remove the fund's repurchase-capacity restrictions.
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