Troy Asset Management's Hugo Ure has been appointed as co-manager of the Troy Income & Growth trust.

UK-based Troy Asset Management has promoted Hugo Ure to co-manage its Income & Growth trust.

Ure, previously assistant manager, will now work alongside Francis Brooke, who has managed the trust for over five years.

While the Troy Income & Growth trust invests primarily in UK equities, it also covers convertibles, preference shares, fixed income securities and corporate bonds.

Since Troy Asset Management took over the mandate for the trust from Aberdeen Asset Management back in August 2009, Troy Income & Growth boosted its net assets more than threefold, from £48 million ($71 million) to £177 million, the company said in a statement.