Lowland drops performance fee as Henderson defends performance record

Not been paid since 2017

Lowland Investment Company has removed its performance fee and reduced the threshold at which the trust’s tiered management fee reduces.

Lowland told investors in an announcement on Friday afternoon that its performance fee would no longer apply from 1 October. Meanwhile, it added, the level at which its management fee drops from 0.5% of net chargeable assets to 0.4% will reduce to £325m, from £375m, from the same date. The trust currently has net assets of £270m. Law Debenture uses Covid-19 market falls to position for future dividend growth Lowland's performance fee had been based on 15% of the net asset value total return outperformance over the FTSE All-Share +10%, measured over three years, according to broker ...