Change of Management Fee

RNS Number : 7411Q

Aberdeen Standard Equity Income Tst

22 October 2019

 

ABERDEEN STANDARD EQUITY INCOME TRUST PLC

Legal Entity Identifier (LEI): 549300DN623WEGE2MY04

22 October 2019

Revised Management Fee Arrangements

The Board of Aberdeen Standard Equity Income Trust plc (the "Company") announces that it has reached agreement with its Manager, Aberdeen Standard Fund Managers Limited ("ASFML"), to revise the fees payable under the Investment Management Agreement. Under the revised agreement the management fee will be calculated on a net assets basis rather than a total assets basis and the threshold at which a lower fee rate will apply will be reduced from £250m to £175m.  Accordingly, with effect from 1 October 2019, the fees payable to ASFML will be calculated at a rate of 0.65% per annum of net assets up to £175 million and at a rate of 0.55% per annum of net assets above this level.

Enquiries:

William Hemmings

Aberdeen Asset Management PLC

Company Secretary

1 George Street

Edinburgh EH2 2LL

Tel: [phone]

 

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