REG-BlackRock Throg Tst: Management fee and change in investment restrictions <Origin Href="QuoteRef">THRG.L</Origin>

Blackrock Throgmorton TrustAnnouncement

24/07/2017 07:00

BLACKROCK THROGMORTON TRUST PLC
(LEI: 5493003B7ETS1JEDPF59)

Management fee arrangements and change in investment restrictions

The Board of BlackRock Throgmorton Trust plc (the “Company”) is pleased to
announce a change in the management fees payable to BlackRock Fund Managers
Limited (‘’the Manager’’).  
*
The base management fee will be reduced from 0.70 per cent. to 0.35 per cent.
of gross assets per annum. (Management fees will be calculated on the month
end gross assets of the Company, including the economic exposure of the total
long and short Contracts for Difference (CFDs) and index futures less current
liabilities). The new base management fee will be effective from 1 August
2017.
*
The performance fee will be increased from 10 per cent. to 15 per cent. of Net
Asset Value (NAV) total return outperformance of the benchmark measured over a
two year rolling basis and will be applied on the average gross assets over
two years.
*
The previous cap on the performance fee of 1 per cent. of average gross assets
over a one year period has been replaced with a cap of 0.9% of average gross
assets over a two year period.The new performance fee will be effective 1
December 2017 to coincide with the start of the new financial year of the
Company. These arrangements will be reflected in the Investment Management
Agreement between the Company and the Manager as a cap of 1.25% of average
gross assets over a two year period which will apply on the total base and
performance fee payable from 1 December 2017.

The Company also announces a non-material change to its investment policy.
Effective immediately, the Company will increase the restriction on its
maximum exposure to equities or collective investment vehicles traded on the
AIM market of the London Stock Exchange from 25 per cent. to 35 per cent. of
the Company’s gross assets at the time of acquisition of investments. The
Board will continue to review whether the investment policy restrictions
remain appropriate, including investigating the potential benefits of
increasing the AIM exposure further and ensuring the benchmark is suitably
aligned to the underlying investments.

The Company remains a focused small/mid cap fund with the ability to mitigate
risk and improve performance by using CFDs and index futures to adjust both
market exposure and generate additional returns.

For the purposes of the Listing Rules, the Manager is a related party of the
Company and the amendments as set out above fall within Listing Rule 11.1.10
R, thus not requiring a shareholder vote.

For further information, please contact:

Simon White, Managing Director, Investment Companies, BlackRock Investment
Management (UK) Limited
Tel: 020 7743 5284

Press enquiries:

Lucy Horne, Lansons Communications – Tel:  020 7294 3689
E-mail:  lucyh@lansons.com

24 July 2017

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