Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. 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 Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: from Batman Live to commodity beta

Profile: from Batman Live to commodity beta

Charteris may be a family affair, but the company is not at any risk of turning sentimental

Wealth Manager on Twitter