Lowland cuts management fee as annual dividend continues to grow

Effective from 1 July

The board of the £414m Lowland Investment Company has announced it will amend its management fee from 1 July, introducing a tiered approach.

The trust, which is managed by Janus Henderson's James Henderson and Laura Foll, currently charges a management fee of 0.5% per annum of net chargeable assets (NCA). From July, this will continue to apply to the first £375m of NCA but a reduced fee of 0.4% per annum will be introduced on assets above £375m. The cap on total fees, base management fee plus performance fee, of 0.75% per annum will be replaced by a cap on the performance fee at its existing level of 0.25% of average NCA per annum in any one year.  As a result, the maximum of fees payable will be 0.75% per annum on the ...