Murray Income trust overhauls management fee structure

Two-tier structure

Murray Income trust (MUT) has slashed and simplified its annual investment management fee structure following agreement with its investment manager, abrdn.

In a stock exchange notice today (30 August), the trust's board has agreed to a two-tier structure consisting of a fee calculated as 0.35% on MUT's net assets up to £1.1bn and 0.25% on any net assets above £1.1bn. Prior to that, the fee structure consisted of three different levels: 0.55% on the first £350m of net assets, 0.45% on any amount between £350m and £450m, and 0.25% on net assets above £450m. abrdn reduces platform fees and simplifies charging structure The newly introduced fee structure came into effect on 1 July. Peter Tait, chair of Murray Income trust, argued the s...