18 May 2017 07:00
Perpetual Income & Growth Investment Trust Plc - Statement re Management ArrangementsPerpetual Income & Growth Investment Trust Plc - Statement re Management Arrangements
PR Newswire
London, May 17
Perpetual Income and Growth Investment Trust plc
LEI: 549300UIWJ7E60WUQZ16
HEADLINE: Management Arrangements
The Board of Perpetual Income and Growth Investment Trust plc (the ‘Company’) is pleased to announce a change to the Company’s management fee with the removal of the performance-based fee and an adjustment to the calculation of the base fee.
With effect from 1 April 2017, the annual management fee will be calculated at an annual rate of 0.60 percent per annum on the first £900m of the Company’s assets and at a rate of 0.40 percent thereafter.
Bill Alexander, Chairman, commented “Shareholders have benefited greatly in both absolute and relative terms from the performance of the Company’s portfolio over the last 20 years, but the Board is also mindful of the need for it to be competitive in the wider marketplace and responsive to that market and to shareholders. We are therefore delighted to announce these changes which should help to ensure that the Company continues to be an attractive investment in the future.” Mark Barnett added “Having managed this Company’s portfolio since 1999 I am proud of the returns we have generated for shareholders, and I look forward to continuing to work with the Board and delivering superior results for shareholders in the future.”
For and on behalf ofInvesco Asset Management LimitedCompany Secretary
18 May 2017