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  5. Amendment to Management Fee

Pin to quick picksAbrdn Equityinc Regulatory News (AEI)

Abrdn Equityinc Information

Share Price Information for Abrdn Equityinc (AEI)

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Share Price: 311.00
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Change: 0.00 (0.00%)
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abrdn Equity Income is an Investment Trust

To provide shareholders with an above average income from their equity investment while also providing real growth in capital and income by investing in a diversified portfolio consisting mainly of quoted UK equities.

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Amendment to Management Fee

8 Nov 2023 09:42

RNS Number : 7945S
abrdn Equity Income Trust plc
08 November 2023
 

ABRDN EQUITY INCOME TRUST PLC

Legal Entity Identifier (LEI): 21380015XPT7BZISSQ74

 

8 November 2023

 

 

Amendment to Management Fee

 

The Board of abrdn Equity Income Trust plc ("the Company") is pleased to announce that it has negotiated a change to the terms of the management fee payable by the Company to the Manager.

 

With effect from 1 October 2023, the Company's management fee will be charged at a flat fee of 0.55 per cent. per annum of the Company's Net Asset Value ("NAV").

 

Prior to 1 October 2023, the Company's management fee was charged at a rate of 0.65 per cent. per annum of the Company's NAV up to £175 million and at a rate of 0.55 per cent. per annum of the Company's NAV above £175 million.

 

Based on the net assets of the Company as at 6 November 2023 of £142.7 million, the change will amount to a 15.4% reduction in the fee payable as compared to the existing fee arrangement.

 

Save for this change, all other terms and conditions contained in the Company's Management Agreement dated 4 July 2014 (as amended and novated) remain unchanged.

 

 

 

Paul Evitt

abrdn Holdings Limited

Company Secretary

Tel: 0131 372 2200

 

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