UK mid-cap launch for BWD Rensburg

BWD Rensburg is to launch a UK mid-cap unit trust this week managed by Stuart Sharp, writes James Thorneley. The group has already seeded the portfolio with £5m from private clients and hopes to raise a further £6m during the launch period. It will be called BWD Mid-Cap Growth Unit Trust. The fund is likely to be placed in the Autif UK All Companies sector. Sharp already runs the group's UK smaller companies unit trust. The management charges on the new fund are to be 4.5% initial and 1.5% annual. Intermediaries will receive initial commission of 3% and renewal of 0.5%. The minimum inv...