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% fee and on further assets 0.3%. These are calculated on a quarterly basis.
The move comes around a year after the first move to two tiers which, at the time, Baillie Gifford said would reduce the ongoing charge by 4bps.
Tiered approaches are also in place on the firm's £733m Baillie Gifford Japan trust and £403m Edinburgh Worldwide investment trust.
James Ferguson, chairman of the Monks Investment Trust, said: "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 £1.75bn 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."
The trust has returned 97.8% over three years to 9 March, according to FE, versus returns of 54% by the AIC Global sector.
Monks Investment Trust was launched in 1929 and invests globally to achieve long-term capital growth.
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