Securities Trust Of Scotland (LON:STS) - Global mandate now with lower fees
Jul 12th 2012 - Edison Investment Research today published a report on Securities Trust Of Scotland (STS.L, LSE:STS, LON:STS) entitled "Global Mandate Now With Lower Fees". In summary, the report says:
Securities Trust of Scotland (STS) is an income trust that pays quarterly dividends and currently offers a 3.8% yield. Following a change in investment mandate last year, under which STS now invests in high-yield global (previously UK) equities, the fee structure has been simplified with effect from 1 April 2012. The performance fee element has been removed altogether, and the base fee increased from 0.3% to 0.6% to compensate. In addition to making the structure more ‘RDR friendly’ the aim is to keep STS’s TER to a maximum of 1.0%, with scope for further improvement if STS can grow its asset base. The manager, Alan Porter, has been in place a little under a year. He has moved from a...
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