Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a730692

Edinburgh Investment fee cut as board appoints Barnett

by David Campbell on Jan 28, 2014 at 07:58

Edinburgh Investment fee cut as board appoints Barnett

Mark Barnett will assume management of Neil Woodford’s £1.11 billion Edinburgh Investment trust following the latter’s move to Oakley Capital, the trust’s board has announced.

The board and Invesco Perpetual have agreed a flat fee of 0.55% a year and a £7.5 million reduction in the upper limit of any performance payment to mitigate the portfolio transition, it added.

Chair Jim Pettigrew said:  ‘Mark shares the same active, value-driven investment approach and long-term focus as Neil Woodford and comes to us with an excellent track record built up over many years of managing money.

He has worked alongside Neil for 17 years as part of the UK equities team at Invesco Perpetual, where he will take over as head of UK equities when Neil leaves.

With Mark's expertise, management continuity and lower cost, we believe these new management arrangements are an excellent outcome for the company and shareholders."

2 comments so far. Why not have your say?

Keith Cobby

Jan 28, 2014 at 08:44

Edinburgh IT and Perpetual Income & Growth IT may as well be merged now that Mark Barnett is managing both trusts.

report this

Whatever the weather

Jan 28, 2014 at 13:52

You can through Keystone IT in there too.

report this

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this:

Look up the investment trusts

  • Edinburgh Investment (Ordinary Share)
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Look up the fund managers

  • Mark Barnett
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them
  • Neil Woodford
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Archive

On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet