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

View the article online at

JP Morgan trust to abandon performance fee

by Robert St George on Sep 25, 2013 at 15:05

JP Morgan trust to abandon performance fee

The £196 million JPMorgan Mid Cap Investment Trust has become the latest fund to remove its performance fee.

Managed by William Meadon and Georgina Brittain (pictured), who has a Citywire + rating, the trust formerly charged 0.4% a year with a performance fee worth 17.5% of any outperformance over its FTSE 250 benchmark.

Now the fund will have a simplified fee structure of 0.65% a year on total assets less liabilities, excluding bank borrowings, worth up to £250 million and 0.6% a year on assets above that threshold.

‘It is felt that this new fee structure balances the need for the company’s ongoing charges to remain competitive post RDR, whilst rewarding the manager for its efforts,’ explained Andrew Barker, the trust’s chairman.

The move is the latest in a series of changes to trust’s fee arrangements, following similar action from groups including Henderson and Lindsell Train.

Over the past three years, JPMorgan Mid Cap has returned 87.6% compared with 60.6% from the FTSE 250 index.

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:

Sponsored Video: Bringing it all back home

As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

The Citywire guide to investment trusts

Investment trusts have proved to be a highly effective way to invest in the market. Citywire has interviewed the experts to find out more.

Investing for income in a changing environment

With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

More about this:

Look up the investment trusts

  • JPMorgan Mid Cap (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

  • Georgina Brittain
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us


On the road

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

Sorry, this link is not
quite ready yet