Edinburgh investment trust cuts fees as discount widens

Pro-forma reduction of 11%

The Edinburgh investment trust (EDIN) has agreed to a reduction in fees with its investment manager Liontrust.

In its annual financial report published today (28 May), EDIN explained the arrangement will be effective from 1 April 2024 and will take place as a fee scale. Edinburgh Investment Trust names deputy manager as de Uphaugh retires The trust will pay 0.45% of its market capitalisation on the first £500m annually, reducing to 0.4% for the next £500m and to 0.35% on the balance of the market capitalisation. Previously, the trust paid 0.48% per annum up to £500m and 0.465% thereafter, noted Numis analysts Ash Nandi and Ewan Lovett-Turner. EDIN said this will result in a pro-forma 11%...