IVPU IVPG : Invesco Perpetual Select Trust cuts fees
The Board of Invesco Perpetual UK Select Trust, chaired by Patrick Gifford (pictured), has announced amendments to its management agreement with Invesco. The annual management fees on the UK Equity and Global portfolios are falling from 0.75% to 0.65% per annum.
Also the maximum performance fee payable in any one year will fall from 0.75% of net assets per annum to 0.65%.
However, the Board has agreed that any excess performance fee carried forward to subsequent years will not now be subject to a clawback for underperformance.