T.Bailey gets approval for Growth fund LITE

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.