James Henderson's Lowland trust to re-allocate fee charges to boost revenue

Effective 1 October

The board of the £414m Lowland Investment Company has decided to split management fees and finance costs between its revenue and capital accounts, after conducting a policy review that found its revenues would have been greater had this change been made sooner.

Previously, all management fees and finance costs had been charged to the trust's revenue account, but in its half-year report for the six months to 31 March, the board of the trust said this will change to 50% being charged to revenue and 50% to capital. The announcement follows a policy review and an analysis of the trust's historical source of returns. The board indicated if the new structure had been in place prior to the full year to 30 September 2017, the revenue earnings per share would have been 54.5p instead of 49.1p. There will be no change to the allocation of any perfor...