Troy launches mirror version of Trojan Income after soft-closure

Troy Asset Management has launched an offshore mirror version of its popular Trojan Income fund, after it soft-closed the onshore portfolio last month.

The group has moved to satisfy demand from existing investors seeking to top up investments into the strategy with the launch of an offshore fund.

Headed by Francis Brooke (pictured) and Hugo Ure, the Trojan Income Feeder fund will have no initial charge, but investors will still be subject to the 1% initial charge on the onshore vehicle. 

This will enable them to access the new fund without paying double charges.

The fund will invest at least 85% of its assets in the onshore Trojan Income fund, which holds a range of UK and overseas equities, as well as fixed interest securities and collective investment funds.

Last month Troy soft-closed its onshore £1.2bn Trojan Income fund, levying an initial charge of 5% in an attempt to stem inflows into the product.

The Trojan Income fund has seen assets rise by more than £500m over the past 12 months.

“This was at the request of existing investors, and is only open to those who can already buy into the fund,” said a spokesperson for the group.

Trojan Income is one of the top performing funds in the IMA UK Equity Income sector over five years, delivering a return of 63.9% over the period to 17 May, according to Morningstar. In contrast, the average fund in the sector has returned 35.6% over the same period.

Troy Trojan Income asset allocation


Troy Trojan Income Top 10 holdings    %

This article was first published by Investment Week

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