Baillie Gifford has announced a reduction in the fees charged on the Monks investment trust due to its growing size.
The Monks investment trust has returned 26 per cent over the past year, compared with 15 per cent for the average trust in the AIC Global sector in the same time period. It is also among the top 20 per cent of performers in the sector over three and five years.
The new fee structure for the trust is tiered, with a fee of 0.45 per cent on the first £750m of assets, 0.33 per cent on the next billion of assets, and 0.30 per cent on all assets above that amount.
Previously all assets above £750m had a charge of 0.33 per cent.
At the end of January 2018, the Monks investment trust had assets of £1.78bn. It has been issuing new shares frequently in recent months, which grows the size of the trust.
The Monks investment trust is managed by Charles Plowden, who is also the joint managing partner at Baillie Gifford.
Tony Yousefian, an adviser at Probus Financial in Norwich said the managers of the Monks have done an "exceptional" job in recent years.
David.Thorpe@ft.com
