JPMorgan Claverhouse Investment Trust is changing its investment management fee arrangements following a review. It says the change is intended to introduce arrangements more appropriate to attracting private wealth and retail investors.

The performance fee will be terminated from 1 July and the management fee will be charged at an amended annual rate of 0.60% of the company's net assets on the first £500 million, and 0.50% of net assets above that amount.

Carried forward performance fees accrued in calculating the company's net assets as at 30th June 2016 will be paid out in full. As at 6 June the estimated accrued performance fee was £0.976 million.

At 9:49am: (LON:JCH) JPMorgan Claverhouse Investment Trust Plc share price was -6.5p at 563p