Keystone, managed by Mark Barnett (pictured), has announced that the management fee on the fund will fall from 0.8% of market capitalisation to 0.6%. This change is effective from July 1 2014. At the same time Keystone is changing the structure of its performance fee in a way that will make it slightly easier to earn a fee – now the fee kicks in for returns in excess of 1.25% over the fund’s benchmark, previously this hurdle was 2.0% over the fund’s benchmark (the FTSE All-Share Index)
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