Lindsell Train IT to cut management fees

LTIT to see fees cut from 0.65% to 0.6% next month

Fund manager Nick Train

Fund manager Nick Train

Lindsell Train is cutting the management fee it charges on its Lindsell Train Investment Trust (LTIT) from 0.65% to 0.6% following a strong year, which netted the group £2.43m in performance fees.

LTIT's annual report to 31 March 2019 informed of a net asset value (NAV) total return of 23.2%, beating the 12% delivered by the MSCI World index in sterling terms. Lindsell Train said its lower fee would be introduced from the beginning of July and would coincide with other cuts to management fees across "most share classes" of Lindsell Train's open-ended range. LTIT chairman Julian Cazalet noted the trust's performance was "inextricably linked" to the performance of fund management company Lindsell Train, being a minority shareholder with 24.23% ownership. He noted the latter's ...

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