Management Fee Arrangements

RNS Number : 0354A

Edinburgh Worldwide Inv Trust PLC

14 March 2013

 



Edinburgh Worldwide Investment Trust plc

Change in Management Fee

The Board of Edinburgh Worldwide Investment Trust plc announces a change in the calculation basis of the Company's management fee. With effect from 1 April 2013 the annual management fee payable to the Company's Investment Managers and Secretaries, Baillie Gifford & Co, is a stepped rate of 0.95% on the first £50m of net assets and 0.65% on the remaining net assets. The fees are calculated on a quarterly basis.

Previously, the management fee was calculated as 0.8% p.a. of the market capitalisation of the Company, plus a secretarial fee (£78,000 for the year to 31 October 2012, adjusted annually for RPI), both calculated quarterly, plus a performance fee calculated annually in arrears.

The Board is of the opinion that this simplification of the fee arrangements, and the removal of the volatility created by the performance fee, is in the interests of shareholders.

Baillie Gifford & Co

Company Secretaries

 14 March 2013

 

END

 

 

MSCBXGDXISBBGXS