Ardevora to unveil onshore income fund

Ardevora is to launch the first onshore fund in its range for Jeremy Lang and William Pattison, in conjunction with Margetts Fund Management.

The UK-domiciled MGTS Ardevora UK Income fund will launch on April 2. The fund will mirror the Dublin-domiciled Ardevora UK Income fund, which launched in January last year.

Margetts already has links in place with platforms, and will act as the ACD.

The fund will be run as a relatively concentrated portfolio with a significant mid-cap bias. It will hold around 40 stocks and will aim to yield approximately 3.9%.

For retail investors, there will be a 5% initial charge and 1.5% annual charge.