27th October 2016 – Troy Asset Management has announced the launch of a Global Income fund, which will be available on the Chelsea FundStore from 1st November 2016.
The new fund will be managed by James Harries, who joined Troy in June from Newton Investment Management, where he co-managed the Newton Global Income fund.
There is no formal yield target, but the company expects the fund to yield around 3%. It will invest in 30-50 stocks, which is a smaller number than the Newton fund. Harries has said he will invest in high quality businesses, with a focus on companies that should benefit from the low interest rate environment, and will be patient in looking for opportunities in emerging markets.
Darius McDermott, managing director of Chelsea Financial Services, commented: “A key difference between this new fund and the previous fund that James managed is the strength of resource that he can access. Troy is a much smaller company than Newton. However, James is a very experienced manager whom I rate quite highly, so we will watch his progress carefully.”