Wintle, who joined Tyndall Investment Management earlier this year as fund manager and chief investment officer, will begin trading in the VT Tyndall North American Fund next week aiming for a concentrated portfolio of between 40 and 50 stocks.
The fund’s offer period began on 31 March and it will have an overweight exposure to financials, particularly banks, as well as industrials, materials, energy and technology giants such as Facebook and Amazon.
Fund manager Wintle, who ran a similarly concentrated US equity fund at Neptune, backed the case for active managers in the US equity space blaming quantitative easing and 0% interest rates for their recent struggle to outperform markets.
“It’s a really exciting time to be launching a US active fund.
“Everyone seems to be going passive now and it’s everywhere on recommended lists, in the press and even the regulator seems to be urging people down that route,” he says.
“I’m not saying people shouldn’t be hold passives, what I’m saying is people ought to have a part of their US exposure in an active fund.
“Everything has changed, we have had a period of very bad growth and decelerating growth and suddenly in July 2016 we had inflation and growth accelerating.
“With three rate rises this year it’s changing the fact of where returns are going to come through.”
Saying he was “really bullish” on the US right now, Wintle adds: “Profits are rising, inflation is rising, economic growth is rising and that’s going to give active managers more opportunity.”
The new fund will charge 0.75% a year, but in a special offer the annual management charge will fall to 0.65% for investors who buy into the fund before it hits £50m.
Wintle joined Tyndall Investment Management – set up by former M&G manager Alex Odd in 2016 – earlier this year and said he was “excited” to be a part of the small start-up company.
He previously managed Neptune’s US Opportunities Fund from 2005 until he left the firm in 2016.
