T Bailey opens new growth fund

Thursday, 07 January 2010 12:00

T Bailey has today unveiled details of a new fund of funds which will mirror one of its existing actively-managed investment products.

The T Bailey Growth Fund LITE, which is awaiting FSA approval, is an international equity fund which will invest in Exchange Traded Funds (ETFs) and tracker funds.

And while it will run using the same asset allocation expertise as T Bailey's Growth Fund, it will also be one of the first passive-only fund of funds to be constructed of ETFs and trackers.

Phillippa Gee, head of marketing and communications for T Bailey, said: "Passive investment fans can now have their cake and eat it.

"In this fund we're overlaying the global asset allocation and active management expertise of one of the UK's leading funds of funds teams onto an underlay of cost-effective passive instruments."

The product's total expense ratio (TER), which is the total costs per year of running the fund, would be capped at 0.99 per cent.

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