JPMorgan US Smaller Companies, managed by Don San Jose (pictured), has announced that it has agreed a new fee structure with J.P. Morgan Funds Ltd, which will take effect from the beginning of the company’s next financial year (1 January 2016).
Under the existing fee arrangement the Company’s basic management fee has been 1.20% per annum on assets up to £100 million and 1.00% per annum on any assets in excess of £100 million. Assets are defined as the Company’s total assets less current liabilities (thereby making no deduction for the principal amounts arising under loan agreements). However, any investment in funds, excluding the JPMorgan Liquidity Funds, on which J.P. Morgan Asset Management earns a management fee are excluded from this calculation.
However, under the new arrangements the company will pay a management fee of 1.00% per annum on all of the Company’s assets thereby removing the 1.20% per annum management fee element on assets up to £100 million.
JPMorgan US Smaller Companies agrees revised management fee : JUSC