UK-listed investment trusts are under pressure to change how they calculate their management fees, which could reduce them significantly.
A decision in December by Greencoat UK Wind, the largest renewable energy infrastructure trust, to alter its formula to the lower of market capitalisation or net asset value could spread throughout the UK’s other 294 listed trusts.
This change could depress management fee revenues by 30 per cent — roughly £53mn, in the renewable energy infrastructure sector alone.
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