FUND manager Baillie Gifford has cut the management fee on its American fund a few months after slashing the charge on three of its investment trusts.
The annual fee has been cut from 0.65 per cent to 0.5 per cent, meaning the fund manager’s income from the trust will fall from £3.2 million to £2.5m based on its current assets of £490m. Firm spokesman James Budden said the move would give the fund a “better chance of beating the index over the long term”.
In September Baillie Gifford cut the fee on its Japan, Shin Nippon and Edinburgh Worldwide trusts.
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