The board of the Monks Investment Trust, managed by Baillie Gifford's Charles Plowden, has amended how it calculates its management fee by introducing a third tier for assets over £1.75bn.
With effect from 1 May, there will be three stepped tiers of annual management fees rather than two. For the first £750m of assets there will be a 0.45% fee, for the next £1bn there will be a 0.33%...
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