t
| TIDM | ANII |
| Share Price | 704.36p-1.96% |
| Market Cap | £300.24m |
Aberdeen New India Investment Trust PLC announced its name changed to abrdn New India Investment Trust plc, effective 31 March 2023, following Companies House approval. Separately, the Company's Board and abrdn Fund Managers Limited agreed to new management fee arrangements, effective 1 April 2023. The fee for the first £300 million (formerly £350 million) of net assets will be 0.8% (formerly 0.85%), and 0.6% (formerly 0.7%) for assets exceeding £300 million (formerly £350 million).
| Date | 31 Mar 2023 |
| Time | 13:26:57 |
| Category | Corporate updates |
| ID | 9910U |
ABERDEEN NEW INDIA INVESTMENT TRUST PLC
Legal Entity Identifier (LEI): 549300D2AW66WYEVKF02
31 March 2023
Change of Name
Aberdeen New India Investment Trust PLC (the "Company") announces that its name has changed, with effect from 31 March 2023, to abrdn New India Investment Trust plc in order to reflect the prior name change of its investment manager.
The Company has received approval from Companies House to effect the change.
The Company's mnemonic identifier will remain as 'ANII'. The Company's SEDOL and ISIN are also unchanged.
Reduction in Management Fee
The Board of the Company is also pleased to announce that it has reached agreement with abrdn Fund Managers Limited to amend its management fee arrangements.
With effect from 1 April 2023, the investment management fee will be calculated at an annual rate of 0.8% (formerly 0.85%) in respect of the first £300 million (formerly £350 million) of the Company's net assets and an annual rate of 0.6% (formerly 0.7%) in respect of the Company's net assets in excess of £300 million (formerly £350 million).
Enquiries:
For further information, please contact:
Stuart Reid
abrdn Holdings Limited
Secretaries
Tel. 0131 372 2200
Email: [email protected]