JPMorgan Claverhouse has announced changes to its investment management fee arrangements, which it says are intended to be more appropriate for attracting private wealth and retail investors. With effect from 1st July 2016, the investment trust’s performance fee will be terminated and the management fee will be charged at an amended annual rate of 0.60% of the Company’s net assets on the first £500 million, and 0.50% of net assets above that amount (currently 0.55% of the market capitalisation). Carried forward performance fees accrued in calculating the Company’s net assets as at 30th June 2016 will be paid out in full (the trust says that, as at 6th June 2016, the estimated accrued performance fee was £0.976m).
JPMorgan Claverhouse agrees new fee arrangements : JCH