REG - abrdn UK Smaller Cos - Amendment to Management Fee

Abrdn UK Smaller Companies Growth TrustAnnouncement

03/04/2025 07:00

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RNS Number : 4110D  abrdn UK Smaller Cos. Growth Trust  03 April 2025

3 April 2025

 

abrdn UK Smaller Companies Growth Trust plc

Legal Entity Identifier (LEI):  213800UUKA68SHSJBE37

 

 

Amendment to Management Fee

 

The Board of abrdn UK Smaller Companies Growth Trust plc (the "Company") is
pleased to announce that it has agreed a change to the terms of the management
fee payable by the Company to Aberdeen Investments ("Aberdeen").

 

With effect from 1 April 2025, the Company's management fee will continue to
be charged on a tiered basis, but at reduced rates of 0.60% per annum on the
first £200 million of the Net Asset Value ("NAV") and 0.55% on NAV above this
figure.

 

Prior to 1 April 2025, the Company's management fee was charged at a rate of
0.75% per annum of the NAV up to £175 million, 0.65% above £175 million and
below £550 million, and 0.55% above £550 million.

 

Save for this change, all other terms and conditions contained in the
Company's Management Agreement remain unchanged.

 

Liz Airey, Chairman of the Company commented "The Board is pleased to announce
this change in the management fee with Aberdeen. We believe that this
arrangement will reduce the cost of managing the portfolio by approximately
17.5% per annum to the benefit of all shareholders. As this change is being
implemented with only three months of the current financial year left to run,
the impact will be more limited in the year to 30 June 2025. However, had the
new management fee arrangement been in place for the whole of the financial
year to 30 June 2024, then the ongoing charges ratio ("OCR") would have been
around 0.80%, rather than the reported 0.92%.   The Board considers that this
revised fee structure makes the Company more competitive.

 

 

For further information, please contact:

 

G Hay Smith

abrdn Holdings Limited

Company Secretary

0131 372 9370

 

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