Management Fee Arrangements

RNS Number : 6047A

Monks Investment Trust PLC

27 March 2017

 

The Monks Investment Trust PLC

Change in Management Fee

The Board of The Monks Investment Trust PLC is pleased to announce a change in the calculation of the Company's management fee, with the introduction of a second tier and the calculation to be based on total assets*.

With effect from 1 May 2017 the annual management fee payable to the Company's Investment Managers and Secretaries, Baillie Gifford & Co Limited, will be as follows: 0.45% on the first £750m of total assets and 0.33% on the remaining total assets. The fees are calculated on a quarterly basis.

"I am delighted that we have entered into a tiered management fee arrangement with Baillie Gifford which ensures that shareholders benefit from economies of scale. In the last financial year the Company's ongoing charges were 0.59% and this new arrangement should help ensure that the ongoing charge remains highly competitive against other funds." - James Ferguson, Chairman of The Monks Investment Trust PLC

*The total value of all assets held less all liabilities (other than any liability in the form of debt intended for investment purposes).

Baillie Gifford & Co Limited

Managers and Secretaries

27 March 2017

Legal Entity Identifier: 213800MRI1JTUKG5AF64

Regulated Information Classification: Additional regulated information required to be disclosed under the laws of a Member State of the EU

 

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