The UK-based boutique investment firm Hume Capital is set to launch an unconstrained open-ended investment vehicle, the firm’s first offering to the intermediary market

The new fund, which is still awaiting approval from the UK regulator, is due to launch in December and will hold around 40-60 stocks with a large- and mid-cap bias, regardless of country or sector weightings.

It will be run by a team of seven led by Nitin Parekh, the founder of Hume Capital and a former global chief investment officer of Credit Suisse Private Bank, who will advise on strategy and asset allocation. The fund’s day-to-day management, meanwhile, will be handled by Stephen Dowds and Stephen Watson, and Mark Baker will be risk manager.

For the retail share class, the initial investment is £1,000 (around $1,610), with an initial charge of 5.25 per cent and an annual management charge of 1.5 per cent. For the institutional share class, the minimum investment is £100,000, while the initial and annual fees are 1 per cent and 0.75 per cent respectively.