Schroders reduces fees on UK Mid Cap trust

Increases revenue return per share by 20.2%

The board of the £162m Schroder UK Mid Cap investment trust has reduced its fees from 0.7% to 0.65% per annum on the first £250m and 0.6% on any funds in excess of that.

The fee reduction, which will be backdated to 30 November was revealed in the company's annual report for the year ended 30 September 2018 released this morning, which showed the trust had increased its revenue return per share by 20.2% from 13.9p to 16.8p. Eric Sanderson, chairman of the board, said: "I am pleased to report the board has negotiated a reduction in the company's management fee from 0.7% per annum to 0.65% per annum on the first £250m and 0.6% on any amounts in excess of that, backdated to November 30.  "As currently, this will be based on the value of assets under mana...