BlackRock halves Throgmorton trust management fee; ups performance fee

Management fee down from 0.7% to 0.35%

Mike Sheen
clock • 1 min read

The board of BlackRock's Throgmorton trust will halve the management fee for the £310m vehicle from 0.7% to 0.35% of gross assets per annum, as of 1 August, while also making a number of changes to its investment policy.

Meanwhile, the trust's performance fee will increase from 10% to 15% of its NAV total return outperformance of the benchmark, measured over a two year rolling basis and applied on the average gross assets over two years. However, the board will also reduce the previous 1% cap on performance fees of average gross assets over a one year period to 0.9% of average gross assets over a two year period. The changes to the performance fee will apply from 1 December. Schroders' Biermann: My approach to taking over £622m UK Dynamic Smaller Companiesfund The firm said the new fee arrangeme...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week