F&C to launch US equity investment trust
F&C Investments is launching the a US equity investment trust targeting capital and income by trading in large caps under a value strategy.
The trust will be called F&C Barrow Hanley US.
F&C said it had hired Barrow, Hanley, Mewhinney and Strauss LLC, one of the US’s largest active managers of US value-orientated equities with assets under management of $66bn, to run the trust.
The portfolio is expected to consist of between 40-50 stocks.
It is expected to be admitted on to the London Stock Exchange in late June.
The trust’s annual management fee will be 75 basis points with no performance fee.
The launch comes shortly after the group released its strategic review to the market earlier this week. In it, F&C said it would look to increase direct marketing of products such as investment trusts and multi-asset funds.