Ex-Liontrust boss launches first fund through Vinculum

Former Liontrust CEO Nigel Legge's new fund management venture Vinculum is to launch its first offering, based on a 'no outperformance, no fee' proposition.

As first revealed by Investment Week, Legge is returning to the industry with new venture Vinculum, which will launch its first fund early next year. The company will launch a global equity fund on 3 January 2012, run on a ‘no outperformance, no fee' basis. The OEIC will be comprised of 50 global listed stocks and will aim to outperform the MSCI World TR benchmark. It will levy no initial charge and no AMC, the only fixed charge being an operating fee of 0.25% of funds under management, payable to the fund's authorised corporate director IFDS Managers. A 20% performance fee will...