UK - Veteran fund manager Nils Taube has set up a new company and is trying to lure over clients from his old venture for his first fund.

Having stepped down as chairman of THS Partners in December he founded Nils Taube Investments. Its first fund "S&W Taube Global Fund" will be available from next Wednesday both to retail and institutional investors. It is a long-only fund with a porfolio of 25 to 30 equities.

Investors in his old THS Partners fund could decide whether they wanted to stay in the fund or opt for an in-specie transfer to the new fund - exempt from capital gains tax. Early next week Taube Investments will announce how many investors have followed Taube to his new venture.

Taube has appointed David Miller, former finance and compliance director of Global Asset Management (GAM), director, as well as Andrew Green and Gordon Grender, both fund managers with GAM.

Next month, Chandos Gore Langton will be joining the team from Credit Suisse.