Schroder has terminated the performance fees on Richard Buxton’s £228 million Schroder U.K. Growth investment trust, Financial Times reports. The performance fee was previously 10% capped at £500,000 on performance above the FTSE All Share plus 0.5%, adds Citywire.
As per the trust’s board, the performance fee structure is an unnecessary layer of complexity to the management fee arrangements. The firm has increased the annual management charges to 0.65% from 0.4%.
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