UK listed investment trust Edinburgh Worldwide and Baillie Gifford Japan recently introduced a third tier to their management fee of 0.55% pa on net assets above £250m.
Both Companies will continue to charge a 0.95% fee on the first £50m of net assets and 0.65% on the next £200m of net assets.
For Edinburgh Worldwide, based on the current level of net assets (£270m), the effective management fee would reduce from 0.71% to 0.70%. The company’s ongoing charges for the year ending October 2015 were 0.93% and the performance fee was removed in 2013.
For Baillie Gifford Japan, based on net assets of £422m, the effective management fee would reduce from 0.69% to 0.64% pa. The company’s ongoing charges for the year ending August 2015 were 0.9%.
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