Change in Management Fee Arrangements

RNS Number : 7815B

Securities Trust of Scotland PLC

20 April 2012

 



SECURITIES TRUST OF SCOTLAND PLC

Change in Management Fee Arrangements

Securities Trust of Scotland Plc is managed under a management contract with Martin Currie Investment Management Ltd ("MCIM").

Under this management contract MCIM received an annual management fee of 0.3% of net assets. MCIM was also entitled to receive a performance fee calculated in respect of each financial year to 31 March (the measurement period) and payable in arrears.

The Board of Securities Trust of Scotland Plc has negotiated an amendment to the current management contract with MCIM. Under the new contract the management fee will be raised to 0.6% of net assets per annum and the performance fee abolished.

The change will be effective from the financial year beginning 1 April 2012 and has been authorised by the UKLA.

Martin Currie Investment Management Limited

Company Secretary

20 April 2012

 

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