Schroder Japan Growth trust makes changes to fees

Charging fees based on net, not gross assets

The £277m Schroder Japan Trust has changed the way it charges its management fee to base it on net rather than gross assets, which will lead to an overall drop in the fees paid by investors.

The trust, which has significantly underperformed the IT Japan sector over one, three and five years according to FE, will now charge its fee based on the value of net assets. The fee structure will remain the same, however, with the trust charging 0.75% per annum on assets up to and including £200m and 0.65% thereafter. Why investors should not ignore Japan The change, which takes effect from 1 November, will result in a reduction of 7bps for the blended fee rate from 0.79% to 0.72%, according to Numis Securities, as net assets are lower than the gross assets of £307m (which inclu...