12th Oct 2020 19:10
JPMorgan Indian Investment Trust PLC - investment trust focused purely on Indian companies and long-term growth - Following a review, the company's investment management fee arrangements with JPMorgan Funds Ltd will change. With effect from February 1, the annual investment management fee, currently 1% per annum on gross assets up to GBP300 million and 0.75% on gross assets over GBP300 million, will be charged at an annual rate of 0.75% on the first GBP300 million of gross assets and 0.60% on gross assets in excess of GBP300 million.
Chair Rosemary Morgan said: "We are very pleased with the result of the constructive discussion with the manager. This reduction in management fees reflects a general trend across the market. It will reduce ongoing charges and should make the company more attractive for investors."
At March 31, the investment company's net assets stood at GBP427.2 million.
Current stock price: 606.00 pence
Year-to-date change: down 18%
By Paul McGowan; [email protected]
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