JP Morgan is cutting the management fees on its US Smaller Companies Investment Trust, effective from 1 July.
The annual investment management fee is currently 100 basis points (bps) of gross assets, with no tiering. From 1 July, the charges on the £202m trust will be reduced to 90bps on the first £100m of assets and 75bps on gross assets over this amount. Both thresholds are excluding any holding in the JPM Liquidity fund. Chairman Davina Walter said the board and JP Morgan Funds had discussed a range of factors, including the obligation to ensure that shareholders receive "good value investment management" and also considered the trust's relative position in the marketplace. Winterflood ...
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