Scottish Mortgage to cut fees after ‘milestone’ entry to FTSE 100

Scottish Mortgage Investment Trust has revealed plans to slash its annual management fee as it enters the FTSE 100 index in a “milestone” move this month.

Scottish Mortgage to cut fees after 'milestone' entry to FTSE 100

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John Scott, chairman of Scottish Mortgage, said entering the FTSE 100 reflected the trusts “strong investment performance” and growth of its assets.

He said: “Admittance to the FTSE 100 is a milestone for the company. It reflects the trust’s strong investment performance over the past 10 years, in addition to which our assets have grown on the back of the issuance from treasury of over 130 million shares in the past three years. 

“This is testament to the success of our Managers’ high-conviction approach in owning what we consider to be the world’s most exciting growth businesses.

“For the trust it brings increased visibility, and for shareholders looking to buy or sell it offers increased liquidity.”

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