Euronext-listed fund of private equity funds Conversus Capital has slashed its management fees less than six months after suspending new commitments and focusing on returning cash to investors - a move that could lead others in its peer group to follow suit.

Conversus Capital has reduced both its 1% fee on invested capital and 50 basis point fee on uninvested capital, by 20%. Its 10% performance fee remains unchanged. A spokesman for Conversus spokesman said the change would lead to annual savings for its investors of $4.3m (€2.9m).