The Old Mutual UK Select Mid Cap Trust, managed by Ashton Bradbury and Richard Moore, is to be launc...
The Old Mutual UK Select Mid Cap Trust, managed by Ashton Bradbury and Richard Moore, is to be launched on 11 February with a fixed price offer period until 22 February.
The fund, first reported last year in Investment Week, aims to return 3% in excess of the FTSE 250, after charges, on a rolling 12-month basis. It will be a concentrated portfolio of around 50 holdings, in common with many of Old Mutual Asset Management's (OMAM) retail mandates. Core holdings will make up around 3% of the fund and higher risk holdings will typically be 1%.
The portfolio will have an annual management fee of 1.5% and an initial charge of 4%. It offers 3% intermediary commission and 0.5% trail.
Moore, who joined OMAM in October last year from Singer & Friedlander and also manages the group's UK Growth fund, will concentrate on the larger mid-cap stocks.
Bradbury, who was previously with Hill Samuel and HSBC and also manages OMAM's UK Select Smaller Companies fund, will be primarily responsible for those at the lower end of the mid-cap spectrum.
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