Troy to soft-close Brooke's Trojan Income fund

Troy Asset Management is to soft-close Francis Brooke's Trojan Income fund in order to protect performance for existing investors.

The fund, which had £931m in assets as of 18 January, according to Morningstar, will soft-close as of 1 May 2013, subject to FSA approval. As of that date the fund's minimum investment will rise from £1,000 to £250,000, and an initial charge of 5% will be levied. The move follow's Troy's decision to soft-close Sebastian Lyon's Trojan fund in April 2011. The Trojan fund's continued popularity with existing investors has seen assets rise considerably after that date, to a current level of £2.4bn. Trojan Income has also seen assets rise considerably over the past 12 months, having tak...