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Troy to soft close top-performing income fund


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.


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