Henderson Technology investment trust has changed its benchmark and fee structure, writes James Thor...
Henderson Technology investment trust has changed its benchmark and fee structure, writes James Thorneley. The board of the £669m trust has been criticised over the past year because of the structure of the performance fee. It is equivalent to 15% of the outperformance of the diluted NAV, compared to the FTSE World index, the trust's old benchmark. For the year to 31 March the trust's NAV rose by 138.1%, compared to the modest rise in the FTSE World Index of 14.4%, providing Hendersons with a fee of £48.6m. The fee structure was to be reviewed next year but owing to the degree of outperf...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes