Investment Trusts Market Update

Last year investment trusts across the sectors moved to simplify and reduce fees - and the trend continues in 2015. Also this month, British Asset's radical mandate change

Emma Wall 28 January, 2015 | 5:01PM
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JP Morgan has cut the cost of investing in two of its closed-end funds. JP Morgan Chinese (JMC) will drop its performance fee from September.

The JP Morgan Chinese fee was previously based on 15% of the outperformance of trust over the MSCI Golden Dragon Index, with a cap at 1% of assets. The annual charge will remain at 1% going forward. The board follows the example of several others over the past two years who have been steadily cutting performance fees in line with ne, cheaper clean-share classes on open-end funds. Last year, Fidelity and Schroders dropped performance charges on trusts.

Morningstar analysts have awarded a Bronze Rating to the Chinese trust, citing the strength of the management team and solid returns over the long term.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Aberdeen Diversified Income & Growth Ord100.52 GBP1.28Rating
BlackRock Dynamic Diversified Gr A Acc159.80 GBP0.00Rating
JPMorgan China Growth & Income Ord569.06 GBP-1.03Rating
JPMorgan Russian Securities Ord758.01 GBP0.40Rating

About Author

Emma Wall  is former Senior International Editor for Morningstar

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