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Henderson International Income trust 'goes clean' with fee revamp
by Sarah Miloudi on Sep 23, 2013 at 13:58
The board of Henderson International Income Trust (HINT) has decided to cut its fees and announce a C share issue.
The decision comes after the trust spoke to investors in August and said it had been thinking over plans to pull in additional capital.
It has now confirmed it will launch the C share issue, probably in early November.
At the same time the board said it had decoded to remove the trust's 10% performance fee and slash its management fee from 0.80% to 0.75% of net assets. This change will also take effect from November.
According to Numis, the new base fee on HINT brings its charging structure into line with the standard unbundled fee for 'clean' share classes on open-ended funds.
The trust's board said it opted to reduce its charges because following the retail distribution review (RDR) the fund should be appealing to a broader range of investors, particularly given its status as the only international income investment trust that seeks returns by exclusively investing outside the UK.
Moreover, announcing the move to the stock market, HINT's board said that following 'market soundings', they had decided to push ahead with a 'substantive' C share issue.
'The board and manager believe the potential returns available from the company's strategy, and the income investment opportunities available around the world, are compelling,' it said.
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