10th Jun 2015 07:29
LONDON (Alliance News) - JPMorgan Emerging Markets Investment Trust PLC said it has agreed changes to its fees with investment manager JPMorgan Funds Ltd, removing the performance fee element of the arrangements.
The changes, which are being implements from the end of its current financial year, June 30, will mean that the trust will be charged only a management fee.
That management fee will remain at 1.0% per annum on the trust's total assets less liabilities on assets of up to GBP800 million and at a rate of 0.75% on assets above that level.
"The board believes that the company's fee arrangements are now the most competitive in its immediate peer group of global emerging equity investment trusts, but it will continue to monitor developments in the investment trust and open ended funds universe," the trust said in a statement.
JPMorgan Emerging Markets Investment Trust shares were down 0.2% at 590.00 pence on Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
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