T.Bailey has gained FSA authorisation for its new passives-only global fund.
Its T.Bailey Growth fund LITE will launch on 25 January.
The vehicle, which has a TER for its leading unit class capped at 0.99%, will invest globally in ETFs and trackers and mirror the asset allocation of the group's actively managed vehicle.
Asset allocation at launch will be: UK 25%, US 25%, emerging markets 17.5%, Europe ex-UK 15%, Japan 7.5% and Pacific Basin ex-Japan 10%.
Minimum investment is £1,000 or £50 per month.
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