Schroders Asia Pacific trust cuts annual fee

Blended fee down to 0.79%

The board of the Schroders Asia Pacific Trust, run by long-standing manager Matthew Dobbs, has announced a reduction in management fees in its interim results.

The annual fees on the £795m trust have been cut to 0.8% on the first £600m and 0.75% thereafter, effective from 1 April. Previously, there was a 0.9% charge on the first £300m of net assets. According to Numis, the blended fee based on current NAV has fallen by 0.04% from 0.83% to 0.79% as a result. The dangers of investment management fee reductions In its six-month results to 31 March, the trust reported a 2.2% increase in total returns, an outperformance of its MSCI AC Asia ex Japan benchmark, which returned 1.9% over the period. The strongest contributors to performance were I...