The premium at which the £149m Invesco Perpetual Enhanced Income trust trades to its net asset value has halved since the dispute between the board and the investment manager began.
Back in April Invesco resigned as manager of the trust in a dispute over the level of fees, and particularly the performance fee.
Invesco then sought to have the chairman of the trust ousted.
The dispute was resolved last month with Invesco agreeing to a new fee structure.
The performance fee has been scrapped. The revised management fee basis of 80bps on first £80m of net asset value, 70bps on next £70m and 60bps thereafter.
The notice period at which the board can terminate the management agreement has been reduced to three months.
The board said the changes announced reflect the wishes of a large number of shareholders.
Data from the Association of Investment Companies (AIC) shows the trust, managed by the experienced Invesco duo of Paul Causer and Paul Read, traded at a premium of 8.2 per cent before the dispute while the current figure is 4.3 per cent.
The share price has moved sharply upwards since the dispute was resolved, and is up from 72p to 75p over the past month.
The shares are however down from the 83p they were a year ago today (5 July.)
Brewin Dolphin, which owns about four million shares in the trust on behalf of clients, about 2.5 per cent of the total, and Guy Foster, head of research at the wealth manager, said he felt the previous fund fees "encouraged excessive risk taking" due to the performance fee.
Simon Elliot, an analyst at Winterflood Securities said the rise in the share price since the end of the dispute shows investors have faith in the prospects for the fund.
david.thorpe@ft.com
