Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Henderson raises fees on Beckett’s European trust

Henderson raises fees on Beckett’s European trust

The annual management fee on the £355 million TR European Growth trust has been increased.

The fund, managed by Henderson’s Citywire + rated Ollie Beckett, has hiked its base fee from 0.5% to 0.6% of net assets.

TR European Growth has also introduced a 1% hurdle rate over its benchmark Euromoney Smaller European Companies index before its 15% performance fee begins to accrue, and reduced the cap on total fees from 2.4% to 2%.

‘The board has reviewed the company’s fee arrangements with its manager and it continues to believe that it is in the best interests of shareholders for the company to maintain a competitive base fee while continuing to link an element of the manager’s remuneration to the outperformance of the company’s benchmark, whilst seeking to reduce the maximum fees payable by the company in any one year,’ the trust stated.

TR European Growth has been the best performer in its AIC European Smaller Companies sector over the past year, returning 129% compared with a peer group average of 121%.

It also has the lowest ongoing charge, including performance fees, in the sector at 0.9% versus the average of 1.22%.

Beckett (pictured) has returned 47% through the past three years via his open-ended funds, ahead of the Citywire European Small & Medium Companies sector average of 37% for the period.

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 Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter