EquitiesJan 27 2016

Troy launches ethical version of Income fund

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Troy launches ethical version of Income fund

Troy Asset Management has launched an Ethical Income fund to be managed by Hugo Ure.

The fund, which launched on January 6, will operate in a similar fashion to Troy’s existing Trojan Income Fund but exclude fossil fuels, pornography, tobacco and certain types of armaments.

It will also hold up to 30 per cent in overseas stocks, based on the manager’s selection.

It will be Mr Ure’s first solo managed fund at Troy. He is co-manager of its Income & Growth Trust and assistant manager on the Income fund.

The Ucits fund will have an on-going charges figure (OCF) of 1.15 per cent within its O Share Class, with a £1,000 minimum investment.

Mr Ure said the fund was still “first and foremost” a UK equity income fund.

He added: “However, the fund also adheres to a set of ethical criteria that we hope will resonate with a growing pool of investors.

“For some time we have been aware of the increasing demand from investors for a fund that eschews certain holdings that do not fit with their principles and objectives.”