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Schroders reduces fees on A-rated Rose's Japan trust

Schroders reduces fees on A-rated Rose's Japan trust

Schroders has cut its management fees on the £183 million Japan Growth investment trust by almost half a million pounds.

Citing a continuation vote coming in November 2014 and the effect of the retail distribution review, the trust’s board reported that the current management fee of 1% on the first £150 million of assets and 0.95% thereafter would fall to 0.75% on the first £200 million and 0.65% thereafter.

The trust estimated that at the current level of assets under management, this move would bring the management fee down by approximately £450,000 a year.

‘The board believes that this reduction in management fees will ensure that the company’s fees remain competitive when compared both with peer group companies as well as open-ended funds specialising in Japanese equities,’ commented Jonathan Taylor, chairman of the trust.

However, the board has also agreed to pay Schroders an extra £50,000 a year for the marketing and promotion of the trust ‘to a wider audience’.

Run by Citywire A-rated manager Andrew Rose (pictured), Japan Growth has returned an annualised 12.1% over the past three years compared with 4.2% from the Topix index.

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Andrew Rose
Andrew Rose
32/47 in Equity - Japan (Performance over 3 years) Average Total Return: 36.04%
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