Charges on Nick Train’s Finsbury Growth & Income Trust have been adjusted to suit the scale of the fund as it nears the £1bn mark.
The charging structure of the fund, currently with £952m in assets under management, includes an amendment to the fees once the fund passes £1bn.
Frostrow Capital £70,000 annual fixed fee will also be dropped and replaced by a 0.15 per cent annual fee up to £1bn value, after which the fee is cut to 0.135 per cent. Lindsell Train will receive an annual fee of 0.45 per cent, which then falls to 0.405 per cent on assets above £1bn.
The Finsbury Growth & Income Trust has returned 50.3 per cent over three years, according to FE Analytics, and the Association of Investment Companies (AIC) website shows that it is currently trading on a 1.1 per cent discount to net asset value.