Mobius' £2bn trust cuts fees

The £2bn Templeton Emerging Markets investment trust (TEMIT) has proposed a fee cut as it prepares to mark 25 years of existence.

The fund, which has been run by Mobius (pictured) since launch in June 1989, will cut fees from 1.2% to 1.1% as of 1 July, in accordance with proposals put forward by managers Franklin Templeton. It follows a number of other fee cuts in the investment trust space; the board said it will continue to monitor further developments in the market "as regards both structure and quantum of charges." "[We] believe that this lower level of management fee, together with the liquidity of the Company's shares and the relatively stable discount, maintains the overall attractiveness of TEMIT as an e...