The managers of the Lindsell Train investment trust have waived half of the £5,323,404 performance fee due for the year to 31 March, a change that will be reflected on the calculation of the company's next NAV.
According to the board, dropping the performance fees for that year to £2,661,702 was a "generous gesture" that comes amid changes to the way performance fees are to be calculated. The investment trust has adopted the MSCI World Index in Sterling as its new benchmark, with effect from 1 April. The board said it is a more appropriate benchmark given that the portfolio is heavily invested in equities, but that a new way of calculating the performance fee is required. Lindsell Train adds Experian to UK funds It added: "Reflecting this change, the board believes that it is also the ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
