Fee cut at Troy Income and Growth – The board of Troy Income & Growth Trust has announced a reduction in the annual management fee payable to Troy Asset Management Limited, the fund’s investment manager.
With effect from 1 January 2019, the company has moved to a flat annual management fee of 0.65% of net assets. This compares to the previous tiered fee of 0.75% of net assets up to GBP175 million and 0.65% of net assets above GBP175 million.
All other provisions of the investment management agreement remain unchanged.
David Warnock, chairman of the company, commented: ‘I am pleased we have agreed a fee reduction with Troy. This reflects the commitment of both the Board and Troy to creating value for shareholders and ensuring the company’s ongoing charges are competitive.’
TIGT : Fee cut at Troy Income and Growth