Trojan fund to soft-close following surge in inflows

Sebastian Lyon is seeking to soft-close the £894m Trojan fund he runs following soaring inflows in 2010.

  Troy Asset Management is seeking FSA approval to soft-close the fund by 30 April. New investors with a minimum investment of £250,000 and willing to pay an initial charge of 5% will only be able to access the fund. The fund has more than doubled in size from £397m in January 2010 to the £894m today. Lyon says Troy is not "an asset gatherer" and he is concerned the surge in inflows could limit investment opportunities and compromise returns in the long run. He says: "Our priority has been to look after existing investors first and to discourage ‘hot money'. This has been done, ...