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 the bull market in precious metals may be starting again

Why the bull market in precious metals may be starting again

Silver and gold again – who would have thought it?

Paul Wood
clock 20 May 2026 • 2 min read
Omnis Investments launches passive range for Openwork and 2plan advisers

Omnis Investments launches passive range for Openwork and 2plan advisers

L&G to run day-to-day investment management

Patrick Brusnahan
clock 19 May 2026 • 2 min read
Digital bank Zopa gains targeted support authorisation

Digital bank Zopa gains targeted support authorisation

Receives regulatory approval for investment products

Sophia Panayi
clock 19 May 2026 • 1 min read