The fund’s minimum investment will rise from £1,000 to £250,000 with an initial charge of 5% implemented for new investors from 1 May.
As the assets have grown – the fund has taken in more than £500m in the past 12 months – Troy said Brooke has been required to spend an increasing amount of time meeting and updating investors.
In a statement, the firm said: “Francis sees his first priority as looking after existing investors and managing the assets already entrusted to him”.
“We do not currently see any liquidity constraints on the manager’s investment process, so this will not affect any existing investors who will be able to add to their holdings, under unchanged terms, should they so wish.”
This follows the soft closure of Sebastian Lyon’s £2.4bn Trojan Fund in April 2011.
Trojan Income Fund has climbed 16% in the past 12 months, and is up 43% over three years. It was rewarded with Portfolio Adviser’s Platinum Award for best UK equity income fund at yesterday’s ceremony. Trojan Fund also picked up a Platinum Award in the multi-asset category.