Toscafund to launch global financials fund for retail investors

Asset manager Toscafund is to launch a global financials fund on the T. Bailey administration platform, which has seen the latter named authorised corporate director of the new launch.

The Aptus Global Financials fund will aim to produce long-term capital and income growth by investing in a portfolio of global financial services companies, including banks and insurers.

The fund will be managed by Johnny de la Hey, who aims to generate a return in absolute terms with respect to the MSCI World Financials and MSCI World indices.

The fund is to be the latest to be launched using the T. Bailey fund administration service, which has already signed up Amati Global Investors, Oriel Asset Management and Nettle Capital Management.

The fund will carry ongoing charges of 1.84 per cent, according to its key investor information document.

The fund will have three share classes – A, B and C – carrying annual management charges of 1.7 per cent, 1.2 per cent and 0.2 per cent, respectively. The A and B share classes with require a minimum investment of £1,000.