REG - abrdn New India IT. - Change in Management Fee calculation

abrdn New India Investment TrustAnnouncement

25/06/2025 07:00

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RNS Number : 2350O  abrdn New India Investment Trust  25 June 2025

 

 

 

abrdn New India Investment Trust plc

LEI - 549300D2AW66WYEVKF02

 

24 June 2025

 

Change in Management Fee Calculation

 

The Board of abrdn New India Investment Trust plc (the "Company") announces
that it has agreed an amendment to the mechanism for calculating the
management fee charged by abrdn Fund Managers Limited ("aFML") under the terms
of the Company's management agreement with aFML dated 14 July 2014 (as
amended) (referred to as the "MA") in order to more closely align its
interests with that of its shareholders.

It has been agreed that, with effect from 1 April 2025, the annual investment
management fees are calculated at 0.8% in respect of the first £300 million
of the Company's market capitalisation and 0.6% in respect of the Company's
market capitalisation in excess of £300 million. The Company will also pay an
annual secretarial and fund administration fee of £45,000, plus applicable
VAT, which will increase each year in line with inflation. All other terms
within the MA remain the same.

The amendments to the MA are considered to be a relevant related party
transaction under the FCA's UK Listing Rule 11.5.4R(1) and this announcement
is being made in accordance with UK Listing Rule 8.2.1R. The Board, which has
been so advised by Winterflood Securities Limited, considers that the
amendments to the MA are fair and reasonable as far as shareholders are
concerned.

Enquiries:

For further information, please contact:

abrdn Holdings Limited

Secretaries

Email:  cef.cosec@abrdn.com (mailto:cef.cosec@abrdn.com)

 

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