Liontrust Asset Management is market-testing plans for a mid-cap fund to be offered to the retail ma...
Liontrust Asset Management is market-testing plans for a mid-cap fund to be offered to the retail market later this year.
The fund is to be run by Liontrust small-cap fund manager Anthony Cross, manager of the Liontrust Intellectual Capital Trust, using an investment process similar to his small-cap fund.
Nigel Legge, managing director of Liontrust, said: 'Cross has an excellent track record and low fund volatility.'
The proposed launch is demand-led, according to Legge. 'We have been asked about this by a number of people so we are now canvassing intermediaries to see how much demand there is,' he said.
If there are commitments to the tune of about £15m, the mid-cap fund will be introduced to the market within six weeks, Legge added.
The Intellectual Capital Trust has a standard deviation score of 6.94%, compared to the UK smaller companies sector average of 7.47%.
Cross's small-cap fund has returned 25% for the three years to 12 March 2002, on an offer-to-bid basis. It has also been given a Lipper score of two for providing consistent returns.
Liontrust has recently recruited Mickey Morrissey for the newly created role of head of third-party distribution from Merrill Lynch. He will join the firm on 7 May, 2002.
Senior Managers Regime
Interest rate outlook unchaged
FCA made demands last week
'Unsung' part of FSCS work