The City of London investment trust (CTY) has reduced its management fees, reflecting growth in assets under management since the last fee review in 2019.
In its half-year results published today (16 February), the trust said its investment management fee was last reviewed and reduced in 2019 and, since then, its net assets under management have grown by 48% to just over £2bn. As a result, the trust's board and its investment manager, Janus Henderson, agreed to reduce the investment management fee from 0.325% to 0.3%, effective from 1 January. This has led to the ongoing charge - comprising manager fees and administrative expenses - to be lower than 2023's 0.37%. City of London has also introduced a second fee tier of 0.275% per annum b...
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