The MGTS Ardevora UK Income Fund will launch on 2 April under the management of Jeremy Lang and William Pattisson. It will be run as a mirror of the £15m Dublin-domiciled Ardevora UK Income Fund, launched on 14 January last year, that the pair currently runs.
They will both be run with a concentrated portfolio of around 40 stocks, with a distinct mid-cap bias, and target a yield of 3.9%.
The top ten holdings of the Ardevora UK Income Fund include Marks & Spencer and Shell as well as the likes of Brewin Dolphin.
The new propositions will be run as a sub-fund of the MGTS Ardevora ICVC for which Margetts will be the ACD (Authorised Corporate Director).
Rob Page, a partner at Ardevora, said: “We are delighted to be working with Margetts. They are a tremendous firm with an excellent knowledge of UK mutual funds and a deep understanding of the wider intermediary market. This provides broader access to the retail market with the Fund being available through a wide range of fund supermarkets.”
