The first fund on the new platform will be a long/short equity fund managed by Egerton Capital, and will be aimed at institutional investors and wealth managers.

It is expected to be launched in November, Schroders said.

The new GAIA (Global Alternative Investor Access) platform is billed as bringing together the asset manager’s global distribution network and Ucits fund management expertise.

It has the hedge fund background of its partner in the venture, NewFinance Capital, a Schroders FoHF subsidiary acquired about three years ago.

The latter will be responsible for manager selection, screening the industry for potential partners and identifying the most suitable candidates.

Egerton Capital’s initial product for the platform is called the Schroder GAIA Egerton European Equity Fund.

The annual management fee, which Schroders will receive a share of, will be 1.25%, and there will also be a performance fee of 20% of any return above a cash-plus-1% benchmark.

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