Martin Currie Global Portfolio cuts fee – The board of Martin Currie Global Portfolio Trust says that, following a review, it has agreed with Martin Currie Investment Management, the manager, that, with effect from 1 February 2021, the performance fee arrangement will be discontinued and the investment management fee amended from 0.4% to 0.5% per year on the first £300m of net asset value (excluding income) and from 0.4% to 0.35% for net assets (excluding income) in excess of £300m,.
They say that the removal of the performance fee results in a simpler and more transparent cost structure and the newly agreed tiered investment management fee contributes to a stable ongoing charge which will progressively reduce as the net asset value grows.
[The number of funds with performance fee arrangements continues to shrink. We know that some shareholders find them off-putting but we like well-designed incentive fees. Martin Currie Portfolio is only just larger than £300m, but hopefully as the trust grows, the new fee arrangement will have a meaningful impact.]
MNP : Martin Currie Global Portfolio cuts fee
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