Smeaton to run Collins Stewart US equity fund

Collins Stewart is launching its US equity fund on 28 May to be run by former Aegon American manager Neil Smeaton, who currently manages a US long/short portfolio for Ailsa Capital Management. Smeaton said the Collins Stewart Ailsa Equity US Focus fund will invest primarily in large-cap equities, with no long-term bias towards any particular investment style. The fund will have an annual management charge of 1.25% and an incentive fee of 20% of outperformance against the S&P 500, subject to a high watermark. Minimum initial investment is £5,000 and there is a £1,000 minimum for subsequent i...