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Tilney to bring US fund onshore in retail move

Tilney is bringing its American growth fund onshore as part of its strategy to establish itself as a mutual fund provider in the UK retail market.

The fund will be available as a sub-fund of Tilney&#39s UK Oeic. It has been run since launch in 1996 by Nicholas Roe-Ely, supported by Jane Drake.

Roe-Ely says the decision to move the fund onshore has been taken to increase its visibility and bring it to the attention of the UK IFA sector and growing fund-of-funds market.

He says there will be no change in the way the fund is run but that he will continue to add value by holding a concentrated portfolio of no more than 40 stocks. The main focus for the fund is the mid-cap area.

Managing director Ian Beestin says: “The mutual funds sector up until six months ago was not available to external investors but we have launched a platform that makes it open to everyone. Moving this fund onshore is the latest step in this direction. This is not an overpopulated sector and this fund has shown a strong performance.”

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