Majedie Asset Management is set to increase the maximum number of long and short holdings on the £1bn Tortoise fund from 40 to 60.
In a circular to shareholders, the company said the change follows the widening of the fund's investible universe from a focus solely on UK equities to a more global remit. The soft-closed fund has been managed by Matthew Smith since launch in 2007, and co-managed by Tom Morris since October 2013. The firm said: "Until June 2013, the fund's investment universe was primarily UK equities (with an ability to invest in equity securities of non-UK companies up to a maximum of 45% of the fund's NAV). Its investment universe was then widened to global equities. "The wider investment univ...
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