View more on these topics

Troy to soft close top-performing income fund

Money

Troy Asset Management is to soft close its £930m Income fund.

Troy says the continued growth of assets in the portfolio has resulted in fund manager Francis Brooke being required to spend an increasing amount of time meeting and updating investors on the progress of the fund.

The soft close, which be implemented on 1 May, will see the Trojan Income fund’s minimum investment rise to £250,000 – having previously been £1,000 – and an initial charge of 5 per cent introduced.

This is the second time Troy has soft-closed a major fund after doing the same with the £2.4bn Trojan fund, managed by Sebastian Lyon, in April 2011.

Troys says: “We do not currently see any liquidity constraints on the manager’s investment process, so this will not affect any existing investors who will be able to add to their holdings, under unchanged terms, should they so wish.”

The Troy Income fund has garnered a strong adviser following since its launch in September 2004. The fund is top quartile over three years in the Investment Management Association UK Equity Income sector having returned 37.8 per cent compared to a sector average of 30.9 per cent.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com