Edinburgh trust offers first performance fees to capture Woodford

clock

Edinburgh investment trust, the £1bn UK Growth and Income vehicle, is offering the first performance fees in its 150-year-history as Neil Woodford becomes lead manager.

The Invesco Perpetual star manager takes over the trust after six years of Fidelity management. Under the agreement, Invesco Perpetual will be paid a management fee and a performance fee. Management fees will be 0.6% of the market cap of the fund - currently equivalent to about 0.45% of total assets. The trust and Invesco Perpetual have also agreed a target that the NAV (with debt at par) should outperform the FTSE All-Share Index (Total Return) by 1.25% per annum on a three year rolling basis. If this target is achieved, Invesco will additionally receive a performance fee of 15...

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

Join

 

Already a Professional Adviser member?

Login

More on Investment

Why should investors back China in the worldwide robotics race?

Why should investors back China in the worldwide robotics race?

The race to identify Asia's hidden gems

Xin-Yao Ng
clock 19 June 2026 • 5 min read
UK small-caps – down and out or ready for a rope-a-dope?

UK small-caps – down and out or ready for a rope-a-dope?

'Our faith is rooted in our own in-depth research and direct engagement with businesses'

Eustace Santa Barbara
clock 19 June 2026 • 5 min read
US-Iran truce eases inflation picture but markets to experience 'hangover'

US-Iran truce eases inflation picture but markets to experience 'hangover'

Fed and BoE face 'balancing act'

Michael Nelson
clock 15 June 2026 • 3 min read