Reduction in Management Fee

RNS Number : 9058N

Troy Income & Growth Trust Plc

23 January 2019

 

Troy Income & Growth Trust plc

To:                   RNS

From:              Troy Income & Growth Trust plc

LEI:                 213800HLNMQ1R6VBLU75

Date:               23 January 2019

Reduction in Management Fee

The Board of Troy Income & Growth Trust plc (the "Company") announces a reduction in the annual management fee payable to Troy Asset Management Limited ("Troy"), the Company's investment manager.

With effect from 1 January 2019, the Company will move to a flat annual management fee of 0.65% of net assets. This compares to the previous tiered fee of 0.75% of net assets up to £175 million and 0.65% of net assets above £175 million.

All other provisions of the investment management agreement remain unchanged.

David Warnock, Chairman of the Company, commented:

'I am pleased we have agreed a fee reduction with Troy. This reflects the commitment of both the Board and Troy to creating value for shareholders and ensuring the Company's ongoing charges are competitive.'

All enquiries

PATAC Limited (Company Secretary)
Tel: [phone]

 

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