The fund has received regulatory approval and will launch by the end of October, with the aim of achieving long term capital growth for investors.
The firm said it would be an unconstrained portfolio, meaning benchmark-related constraints, such as sector weightings would not apply.
Chappell and Sattar are both members of the UK specialist equity team, which concentrates on managing higher alpha portfolios for clients.
The strategy used by the team is to try and uncover opportunities by exploiting anomolies in the market and in that regard it is a bottom-up, stock picking outfit.
As at the end of June the UK specialist equity team managed £25.5bn of assets on behalf of institutional and retail investors.
