View more on these topics

Baillie Gifford lowers investment trust charges

Spotlight on charges 700x450.jpgBaillie Gifford is lowering the  annual management charge on four of its investment trusts from 1 January 2019.

The Edinburgh Worldwide Investment Trust, Pacific Horizon Investment Trust, The Baillie Gifford Japan Trust and Baillie Gifford Shin Nippon all allow a tiered approach based on its total assets, and the group will reduce fees for the opening tier from 0.95 per cent to 0.75 per cent.

The first £50m of net assets will incur a charge of 0.75 per cent, then the next £200m will be charged 0.65 per cent and assets beyond £250m will incur a 0.55 per cent annual management fee.

The group believes lowering its fees, which it has done multiple times in recent years, will save clients of each of the four trusts £100,000 per annum.

Trade body calls for KIDs to be scrapped for closed-ended funds

Baillie Gifford director of retail marketing and distribution James Budden says: “The fee reduction for these trusts is part of our commitment to offer value for money to investors. Our trusts have seen strong asset growth and have been busy issuing new equity. We are keen to pass on the benefits of increased scale to shareholders where possible.”

All four trusts have seen solid returns over the past five years, as seen in the chart below. The Shin Nippon trust, for example, has seen a 119.59 per cent return as at 17 December 2018.

Recommended

34

FOS tells Lighthouse to refund advice fee

The Financial Ombudsman Service has told an adviser to refund a client’s £970 advice fee and pay 8 per cent interest, plus £500 compensation, after it refused to sign a form declaring advice had been given. In the case, a client referred to as Mr B was advised by Lighthouse Advisory Services to transfer two existing […]

L&G apologies to client over pensions tax free cash error

Legal and General Assurance Society has apologised to a client for making repeated mistakes in the information it gave about the amount of tax free cash he could take. In a ruling from The Financial Ombudsman Service, Mr M complains L&G’s errors resulted in the need for him to return funds and caused him “significant trouble” and […]

US bank cuts pay rates for lowest-producing advisers

Advisers at US bank Wells Fargo will see their pay rate drop next year if they fail to meet revised revenue targets, according to Bloomberg. The news service reports that financial planners with more than seven years’ experience will need to generate 12-month revenue above $250,000 (£198,000) if they don’t wan’t to see their pay […]

BoE

All mortgage transactions on hold as BoE hit by technical problems

UK borrowers cannot access a mortgage right now as the Bank of England confirmed a key payments system has been hit by technical problems. The Bank says it identified a technical issue this morning related to some routine maintenance of the real time gross settlement system payment system and has paused settlement while it resolves […]

Pensions-savings-retirement-piggy bank

Defined benefit schemes: Part 2

Justin Corliss, business development manager In defined benefit (DB) schemes part 1, we looked at recent guidance aimed at DB scheme trustees and sponsors. In part 2 we will look at guidance available to pension transfer specialists (PTS). In the first instance, PTS should familiarise themselves with COBS 19. All guidance below is designed to […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com