Aberdeen UK Tracker has done its job and tracked the FTSE All-Share Index over the first half of 2015 and now has a 25 year track record of doing so. The Board are happy but they have decided to cut the fees they pay to Aberdeen to manage the fund – the new fee basis will be 0.2% on the first £100m of net assets and 0.09% on the balance.
One other change they are making is to use FTSE100 and FTSE250 index futures to “reinvest” dividends as they go ex in the portfolio – this more closely matches the way the indices are calculated and is necessary because there is a time lag between the dividend going ex and the money being available to reinvest when the dividend is paid.
The Directors have declared an interim dividend per share of 6.4p (2014: 5.7p) for the year ending 31 December 2015.
AUKT : Aberdeen UK Tracker fees cut