The investment trust is split between four portfolios, each with its own share class.
The £65.8m UK Equity element is run by Mark Barnett, with the £50.4m Global Equity Income part headed by CIO Nick Mustoe.
The annual management fee on Barnett and Mustoe’s portfolios, and the maximum performance fee payable in any one year, have changed from 0.75% to 0.65%.
The changes take effect retrospectively from 1 June.
No changes have been announced for the other two portfolios – Managed Liquidity Share Portfolio, run by Stuart Edwards, maintains an AMC of 0.25%, while Balanced Risk Share portfolio, headed by Scott Wolle, stays at 0.75%.
