Register Log-in Investor Type

News

Nick Train’s Finsbury Growth and Income Trust revises its fees

headshot of Nick Train

Finsbury Growth and Income Trust, managed by veteran fund manager Nick train, has announced amendments to the fee arrangements for:

  • the Company’s Alternative Investment Fund Manager (Frostrow Capital LLP); and
  • the Company’s Portfolio Manager (Lindsell Train Limited).

The changes come into effect immediately.

Frostrow Capital’s fees

Frostrow Capital LLP will receive an annual fee of 0.15% of the Company’s adjusted market capitalisation up to a value of £1 billion, such fee reducing to 0.135% per annum of the amount of the Company’s adjusted market capitalisation in excess of £1 billion up to a value of £2 billion, such fee to reduce to 0.12% per annum of the amount of the Company’s adjusted market capitalisation in excess of £2 billion. The Company’s adjusted market capitalisation at the close of business on 25 July 2019 was £1.81 billion, which, all things being equal, suggests a fee in the region of £2.594m per annum payable to Frostrow Capital.

Lindsell Train Limited’s fees

Lindsell Train Limited will receive an annual fee of 0.45% of the Company’s adjusted market capitalisation up to a value of £1 billion, such fee reducing to 0.405% per annum of the amount of the Company’s adjusted market capitalisation in excess of £1 billion up to a value of £2 billion, such fee to reduce to 0.36% per annum of the amount of the Company’s adjusted market capitalisation in excess of £2 billion. As per the above, the Company’s adjusted market capitalisation at the close of business on 25 July 2019 was £1.81 billion, which, all things being equal, suggests a fee in the region of £7.781m per annum payable to Lindsell Train Limited.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.

You live in…

You are a…