Management Fee Arrangements

RNS Number : 4475H

Monks Investment Trust PLC

12 March 2018

 

The Monks Investment Trust PLC

Change in Management Fee

The Board of The Monks Investment Trust PLC announces a change in the calculation of the Company's management fee, with the introduction of a further stepped tier at £1.75bn of total assets*.

With effect from 1 May 2018 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, 0.33% on the next £1bn of total assets and 0.30% on the remaining total assets. The fees are calculated on a quarterly basis.

"I am delighted to be announcing a further change in the calculation of the Company's management fee, with the introduction of a further stepped tier at £1.75bn of total assets. This will ensure that shareholders continue to benefit from economies of scale as the Company grows and that the ongoing charges remain highly competitive against other funds." - James Ferguson, Chairman 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

12 March 2018

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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