abrdn Equity Income flattens management fee

0.55% of net asset value

The board of the abrdn Equity Income (AEI) trust is flattening its management fee after reaching an agreement with its investment manager.

In a stock exchange notice today (8 November), AEI said that from 1 October, the trust's management fee will be charged at an annual flat fee of 0.55% of its net asset value.  Before that, the trust's management fee was charged at an annual rate of 0.65% of its NAV up to £175m and at an annual rate of 0.55% of NAV above £175m.  abrdn to acquire £600m closed-end fund assets from First Trust Advisors Based on AEI's  £142.7m in assets as of 6 November, the change will amount to a 15.4% reduction in the fees paid as compared to the existing fee arrangement.  According to the Associa...