Dunedin Smaller Companies fee cap

Dunedin Smaller Companies is to introduce a performance fee to be capped at 0.5%pa. This will be in addition to the trust's existing annual management fee of 0.4%. The portfolio is benchmarked against the FTSE Small Cap ex IC and the managers will have the fee calculated at a rate of 0.1% for each 1% NAV outperformance of this index. In addition to the decision to add a performance fee to the trust, the notice period on the management contract with Edinburgh was reduced from two years to one. A spokesman for Edinburgh Fund Managers, which has the management contract for the trust, said: ...