Change in Management Fee

RNS Number : 6579N

Schroder Income Growth Fund PLC

30 July 2014

 

30 July 2014

Change in Fees Payable to the Investment Manager

The Board of Schroder Income Growth Fund plc (the "Company") is pleased to announce a change in fees payable to the Company's Investment Manager, Schroder Unit Trusts Limited ("Schroders").

Following a review of management fee arrangements, the Board has agreed with Schroders that, with effect from 1 September 2014, the current management fee structure (which is based on a percentage of net revenue return, a percentage of assets and a performance fee) be replaced with a single management fee of 0.75% of assets. The fee will continue to be calculated and paid quarterly in arrears. In setting these changes, the Board aims to simplify the fee structure and reduce the level of operating expenses. To illustrate this, if the new management fee had been in place for the year ended 31 August 2013, it would have saved the Company an estimated £188,000.

For the purposes of the Listing Rules, Schroders is a related party of the Company and the alteration in the management fee arrangement falls within Listing Rule 11.1.10 R.

Enquiries:     

Louise Richard

Schroder Investment Management Limited                     020 7658 6501

 

END

 

 

MSCSEWFMUFLSEEW