Marlborough Fund Managers is to change the charging structure on its UK Equity Income fund and switc...
Marlborough Fund Managers is to change the charging structure on its UK Equity Income fund and switch from weekly to daily pricing next month.
The fund's annual management fee is currently charged to income but Marlborough will begin charging to capital from August, subject to unitholder approval. Keith Ounsworth, sales and marketing director of Marlborough, said this will add a 150 basis point kicker to the fund's yield.
The move to daily pricing is in response to increasing demand for the fund following the management of the £5.6m portfolio being outsourced to Michael Barnard last June.
Barnard, managing director and owner of stockbrokers MD Barnard, also runs the group's UK Equity Growth fund.
Marlborough UK Equity Income is the top-performing fund in its sector over one year to 14 July, with a return of 4.8%, after charges, compared to the sector average of -6.7%.
Marlborough also plans to switch its Special Situations and Global Bond funds to daily pricing in the autumn.
The management of Marlborough Special Situations is outsourced to Giles Hargreave, chief executive of stockbrokers Hargreave Hale. Over one year, it is ranked first in the UK smaller companies sector, with growth of 22.2% in the 12 months to 14 July, after charges.
EIS and Seed EIS sectors
'Truly making a difference'
Avoidance, evasion and non-compliance
From 6 April 2019