The managers of the Lindsell Train investment trust have waived half of the £5,323,404 performance fee due for the year to 31 March 2021, a change that will be reflected on the calculation of the company's next NAV.
According to the board, dropping the performance fees for that year to £2,661,702 was a "generous gesture" that comes amid changes to the way performance fees are to be calculated. The investment trust has adopted the MSCI World Index in Sterling as its new benchmark, with effect from 1 April 2021. The board said it is a more appropriate benchmark given that the portfolio is heavily invested in equities, but that a new way of calculating the performance fee is required. "Reflecting this change, the board believes that it is also the appropriate benchmark to use for the purpose of cal...
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