JPMorgan to reduce fee on Forey’s trust when assets rise

JPMorgan Asset Management has committed to reducing the annual management fee on Austin Forey’s Emerging Markets Investment Trust when the trust grows in size.

The trust will keep its current annual charge of 1 per cent on assets up to £800m, but will charge investors 0.75 per cent on assets above £800m.

The change comes into effect on July 1 2014, but at the end of January this year the fund only had assets of £680.2m, so the fee change would not yet apply.

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Since the RDR, many investment trusts have reduced their fees in order to remain competitive with open-ended funds that typically now charge 0.75 per cent or less.