HMS Income Fund Waives Incentive Fee in Q1 2017
May 2, 2017 | by Jared Schneider | Blue Vault
HMS Income Fund entered into a conditional incentive fee waiver agreement on April 24, 2017. This agreement effectively waives the fees that would normally be taken by the advisor for income to the fund over a certain hurdle rate. The waived fees will typically decrease the overall operating expense of the fund, and also provide more distributable income to shareholders. The waived fees may be repaid to the advisor in future periods if an income surplus exists.
HMS Income Fund, Inc., a nontraded BDC with over $1 billion in assets under management, produced a 12.3% total return for investors in the year of 2016. HMS Income Fund is advised and managed by affiliates of Hines and Main Street Capital.
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