Baillie Gifford has cut the investment management fees on two of its investment trusts, as charges on closed-ended structures come under increasing scrutiny.
The Edinburgh-based has announced it will be introducing a new layer to the tiered fee structure of the £422m Baillie Gifford Japan Trust and £271.8m Edinburgh Worldwide Investment Trust based on their net assets. Boards on both trusts have agreed an annual management fee of 0.95% on the first £50m of net assets and 0.65% on net assets above £50m, with an additional tier of 0.55% introduced on net assets above £250m. Fees will continue to be calculated and levied at the end of each quarter. James Budden (pictured), director of retail marketing and distribution at Baillie Gifford, sai...
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