The Invesco Perpetual Select trust, managed by Mark Barnett and Nick Mustoe, has cut upfront and performance fees in the latest sign of price pressure in the closed-ended space.
The trust runs four portfolios - UK equity, global equity, balanced risk and managed liquidity. Fees on the first two portions will fall from 0.75% to 0.65%, with the maximum payable performance fee on these portfolios also falling from 0.75% to 0.65%. Both changes will take place retrospectively as of 1 June 2014, the trust’s board said. No changes will be made to the charges on the other two portfolios.
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