GLINT will invest predominantly in worldwide equities, with a diversified portfolio of between 50 and 70 stocks. It will aim to diversify risk at the portfolio level, but there will be no rigid industry, sector, region or country restrictions, except that exposure to UK equities will not exceed 150 per cent of the UK weighting within the MSCI World Index. No single investment will, at the time of acquisition, account for more than 15 per cent of gross assets.

The team will seek investment opportunities in companies that it believes have attractive valuations and can increase profit margins and deliver sustainable returns through the economic cycle with attractive and sustainable dividend yields.

GLINT is proposing to issue up to 100 million ordinary shares at 100 pence by way of a placing and offer for subscription. It will seek to pay a dividend at the initial rate of 3.5 pence per annum, assuming the issue is fully subscribed, with the target of increasing the dividend by 6 to 12 per cent per annum.