Management fee

RNS Number : 2595E

Schroder Income Growth Fund PLC

17 October 2018

 

17 October 2018

Management fee

The Board of Schroder Income Growth Fund plc (the "Company") is pleased to announce that new fee arrangements have been agreed with the Company's Manager, effective from 1 September 2018.

Under the new arrangements, the Company will move from a flat fee of 0.75% per annum on the value of the Company's assets under management, net of current liabilities other than short term borrowings, less any cash up to the level of borrowings ('chargeable assets'), to a reduced, tiered fee. The new fee will be charged at the rate of 0.65% per annum on the first £200 million and 0.55% per annum on subsequent amounts.  

By way of illustration, had the new fee arrangements been applied to the Company's year-end chargeable assets, the management fee payable would have reduced by 15%.

Enquiries:                                                                 

Louise Richard

Schroder Investment Management Limited                                                          Tel: [phone]

This announcement is deemed by the Company to contain inside information as defined under the Market Abuse Regulation (EU) No. 596/2014.

 

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