JPM to cut American investment trust fee by 38%

Effective from 1 October 2017

The board of the £1bn J. P. Morgan American investment trust has introduced a tiered charging structure to the vehicle, resulting in an overall fee reduction of 38%, effective from 1 October 2017.

The annual charge of the fund, which is co-managed by Garrett Fish and Eytan Shapiro, will decrease later this year from 0.52% to 0.33% depending on net assets. The first £500m of net assets will be charged at 0.35%, while those in excess of £500m and up to £1bn will be charged at 0.3%. For net assets above £1bn, there will be a 0.25% fee, which means the effective IMC at the trust's current AUM is 0.33%. This equates to approximately a 38% fee reduction.   Fitz: Average fund performance fee drops from historical 'norm' Dr Kevin Carter, chair of the board of JPMorgan American, s...