MAM Funds has unveiled plans to launch its diverse income trust, which will be headed by former Gartmore fund manager Gervais Williams.
The firm intends to float the new equity income investment trust on the London Stock Exchange, offering a subscription of redeemable shares at 50p each to raise up to £50m. It hopes to receive admission to the Official List by April.
Williams plans to focus the all cap fund’s investment strategy on quoted British small and mid caps, holding between 1-1.5 per cent of the total portfolio in each investment. He will also expose the fund to UK micro-sectors that he anticipates to grow despite flat economic conditions.
The launch comes after MAM Funds announced in December that Williams will be its managing director.
Williams is the former head of smaller companies at Gartmore, where he managed a number of products including the Gartmore growth opportunities, Gartmore Irish growth fund and Gartmore fledgling trust.