REG - Troy Inc & Gwth Plc - Reduction in Management Fee

Troy Income & Growth TrustAnnouncement

23/01/2019 12:00

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: 0131 538 6610
 




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