Threadneedle has finalised the details of its UK Equity Alpha Income fund, to be launched this week. The new fund, first reported in Fund Strategy on February 27, will be run by UK Equity Income manager Leigh Harrison.Harrison aims to hold a concentrated portfolio of about 30 stocks until the fund reaches a “reasonable” size. “If we kick off with, say, 10m, the portfolio will contain 20 to 25 stocks,” he says. “We can then increase this to 40 when the fund hits 30m to 40m. The fund will offer a more distilled version of our views.” UK Equity Income held 57 stocks as at February 28. Harrison expects the portfolio to consist of mainly FTSE 100 companies at launch. “I see more value in large-cap, growth stocks at the moment,” he says. “But my style has tended to be towards small and mid-caps. These will constitute about 40% of the portfolio in the medium to long term.” The fund has Ucits III capabilities but Harrison says these are unlikely to be used. Initial charges are 3.75%, discounted to 3% until May 5. Annual management fees are 1.5%. The minimum retail investment is 2,000.