European Opportunities trust lowers management fees as continuation vote looms

Underperformance against benchmark

The European Opportunities trust (EOT) has agreed to a reduced management fee with its investment manager, Devon Equity Management.

The reduction took effect from 1 June 2023 and set out that Devon is entitled to 0.8% per annum on net assets up to £1bn, 0.7% on net assets between £1bn and £1.25bn, and 0.6% on net assets over £1.25bn. Equity trusts dominate platform most bought lists despite recent alternatives issuance Previously, Devon's management fees were 0.9% per annum on net assets up to £1bn and 0.8% on net assets after that threshold. EOT chair Matthew Dobbs said a continuation vote will be put to shareholders at the trust's annual general meeting on 15 November, as required under the Articles of Associ...