Stay connected:
Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a628572
Brooke strikes deal to cut Troy Income & Growth fees
Markets
by Sarah Miloudi on Oct 23, 2012 at 10:00
Francis Brooke's Troy Income & Growth Trust has negotiated a reduction in management fee with its board.
The vehicle recently proposed taking on the on the assets of Albany Investment Trust and Grampian Investment Trust, and struck a deal that will see the management fee drop as net assets rise.
The current fee of 0.75% per annum will remain in force on net assets up to £175 million. After this point it will drop to 0.65%, with the change being back-dated to 1 October.
Despite the reduction in fee arrangement being backdated, Troy Income & Growth only has assets of £126 million, according to Numis data, so investors will not feel its impact immediately.
The trust currently trades at 56.1p per share and at a premium of 0.9%. AA-rated Brooke has returned for investors 42% growth in net asset value per ordinary share over the three years to the end of August, versus a rise of 27.3% in the FTSE All-Share Index.
News sponsored by:
Today's top headlines
More about this:
Look up the shares
Look up the fund managers
Archive
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
On the road
Click here to find out more from the Audience Development team.
Sponsored Video: J.P. Morgan Elect on growth, income and cash
J.P. Morgan Elect on investment growth, income and cash. More information on J.P. Morgan investment trusts.
leave a comment
Please sign in here or register here to comment. It is free to register and only takes a minute or two.