JPMorgan European Smaller Companies Trust, chaired by Carolan Dobson (pictured), has announced changes to its management fee arrangements. With effect from 1st April 2017 the investment management fee will be charged at an annual rate of 1.00% of the Company’s Net Assets on the first £400 million, and 0.85% of Net Assets in excess of that amount. Previously, the company paid a flat rate fee of 1.0% of net assets. The principal change is the introduction of the step down in fee from £400m of net assets. The ongoing charges ratio for the year ended 31 March 2016 was 1.18%.
JPMorgan European Smaller Companies Trust introduces stepped management fee : JESC