Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Edinburgh Investment fee cut as board appoints Barnett

2 comments
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."

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Play Japan's slump, the umbrella revolution and the battle for Brazil

Japan's slump, the umbrella revolution and the battle for Brazil

With the arrows of Abenomics appearing to be missing their targets and political uncertainty rife in Hong Kong and Brazil we take a look at investor sentiment in this week's Investment Pulse

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter