Finsbury Growth & Income amends fee structure as it nears £1bn mark

Currently £963m in size

The board of Finsbury Growth & Income trust has introduced a tiered structure to its management fee arrangements which will see a reduction in cost once the trust exceeds £1bn in size.

The trust, managed by Nick Train (pictured), is currently £963m - almost £300m more than its £673m size as at 30 September last year. Fees will be reduced to 0.54% per annum when the trust moves above £1bn, while the existing fee rate of 0.6% will remain in place while the market cap is under £1bn. The fee is split between Lindsell Train, the investment management firm founded and run by Nick Train and Michael Lindsell, and Frostrow Capital, who provides administrative and marketing services, and acts as an AIFM for the trust. Lindsell Train will receive 0.45% of the fee based on m...