Literacy Capital raises management fee from 0.9% to 1.5%

Charitable donations also adjusted

Literacy Capital (BOOK) has increased the management fee paid to its investment manager, Book Asset Management, to 1.5% of the trust's adjusted net asset value, up from 0.9%.

Efective from 1 January 2025, the decision came on the back of BOOK's growing NAV total return, which was up 225.4% since the trust was admitted to the London Stock Exchange Specialist Funds Segment in June 2021. In addition, as a result of the trust's portfolio expansion, which now boasts 19 businesses, "the investment manager [Book AM] is keen to ensure that it has the resources necessary to build the scale and capabilities within its team to continue to deliver strong investment returns for shareholders", according to BOOK. JP Morgan AM slashes fees on £5.8bn US Select Equity Plus ...