Update: Troy wins £100m Electric & General mandate

Troy Asset Management is to take over from Taube Hodson Stonex (THX) as manager of the Electric & General global equity fund.

Gabrielle Boyle (pictured), manager of the newly-named Troy Global Equity fund, will take over management of Electric & General as of 1 July, bringing to an end THX's 11-year spell in charge. It follows a review of the mandate by the fund's independent board of directors, who have continued to oversee the portfolio subsequent to the unitisation of the Electric & General investment trust in 2011. According to analysts at Numis, the fund's 0.3% AMC and performance fee of 10% of any outperformance of the MSCI World will be converted into a single flat AMC of 0.75%. The ongoing charges fi...