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Annual charges rise at Baring

Baring Asset Management is increasing annual management charges on 10 of its 14 unit trusts from April 1.

The company says it is raising the fees by between 0.25 and 0.5 percentage points to bring its charges in line with other fund managers.

Head of global sales John Heskett says the increase in fees will help pay for more research and cover increases in compliance and regulatory costs.

He says: "What we have done is to bring our unit-trust fees up to the market. We felt that it was justifiable."

Annual charges on the Baring UK growth and equity income funds will increase to 1.25 per cent from 1 per cent.

Annual fees on the Baring American growth fund, American smaller companies fund, European growth fund, Europe Select fund, German growth fund, Baring global growth fund and Baring Portfolio fund increase to 1.5 per cent from 1.25 per cent.

The biggest increase in fees is on the Baring UK smaller companies unit trust which rises to 1.5 per cent from 1 per cent.

Four other funds will ret- ain their present charging structure.

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