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Monks tinkers with management fee

Monks tinkers with management fee – The Board of The Monks Investment Trust has announced a change in the calculation of the company’s management fee, with the introduction of a further stepped tier at GBP1.75bn of total assets*.

With effect from 1 May 2018 the annual management fee payable to the Company’s Investment Managers and Secretaries, Baillie Gifford & Co Limited, will be as follows: 0.45% on the first GBP750m of total assets, 0.33% on the next GBP1bn of total assets and 0.30% on the remaining total assets. The fees are calculated on a quarterly basis.

I am delighted to be announcing a further change in the calculation of the Company’s management fee, with the introduction of a further stepped tier at GBP1.75bn of total assets. This will ensure that shareholders continue to benefit from economies of scale as the Company grows and that the ongoing charges remain highly competitive against other funds.” – James Ferguson, Chairman The Monks Investment Trust PLC.

*The total value of all assets held less all liabilities (other than any liability in the form of debt intended for investment purposes).

[Currently, Monks has net assets of £1,693m]

MNKS : Monks tinkers with management fee

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