Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Troy to soft close Brooke's £1bn Trojan Income fund

Troy to soft close Brooke's £1bn Trojan Income fund

Troy Asset Management has decided to soft close Citywire AA-rated Francis Brooke's top performing £1 billion Trojan Income fund.

The firm has faciliated the move by raising the minimum investment from £1,000 to £250,000, with an initial charge of 5% for new investors. The changes will take effect from 1 May.

In a statement, Troy stressed there is not a liquidity problem but assets under management in the fund have grown substantially and as a result of this, Brooke (pictured) has been required to spend an increasing amount of time meeting and updating investors.

'Francis sees his first priority as looking after existing investors and managing the assets already entrusted to him. As a result, the decision has been taken to soft close the Trojan Income fund. This is consistent with the soft close of the Trojan fund which took place in April 2011,' Troy said.  

'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.'

According to its most recent factsheet, the Trojan fund's biggest sector exposure was to consumer goods at 23% followed by financials at 17%.

Its biggest holding was GlaxoSmithKline at 3.9%, followed by oil giants Shell and BP, which accounted for 3.8% and 3.7% respectively.

The fund yields 4.3% and its impressive total return has seen investors flock to the strategy in recent years. According to Lipper, the fund has returned 45.3% in the three years to 31 January, around 8% better than the return on the benchmark.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Francis Brooke
Francis Brooke
40/78 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: 52.51%
Citywire TV
Citywire TV
Citywire TV
Play Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

1 Comment Play Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Our much anticpated new series is here! We hand a black cab driver a tenner and grill the manager of the 125-year Merchants trust until the meter runs out.    

Play Europe bulls, a retail boost and why a little inequality can be a good thing

Europe bulls, a retail boost and why a little inequality can be a good thing

This week’s Investment Pulse looks at whether investors should be bullish on Europe, the surprise rise in UK retail sales and if a little inequality is a good thing.

Your Business: Cover Star Club

Profile: meet the duo at the heart of Hargreave Hale's succession plan

Profile: meet the duo at the heart of Hargreave Hale's succession plan

For the first time in the company's history a non-Hargreave is now at the head of the north west broker and asset manager

Wealth Manager on Twitter