Daniel Godfrey's People's Trust has begun its offer period with the intention of raising £125m ahead of its scheduled listing on the London Stock Exchange on 17 October.
A prospectus was published on 7 September announcing the offer period will close on Tuesday 10 October. Shares are priced at 100p.
The results of the issue will be published on Thursday 12 October and the trust will list on Tuesday 17 October.
The trust is seeking to raise £125m from investors - including institutional - during the offer period and some £1.5m will be invested by the board at launch.
Founder Godfrey is a former chief executive of the Investment Association until his departure in October 2015.
The People's Trust's absolute return target is a total compound return of CPI inflation + 5% per annum after costs, measured over rolling seven-year periods.
Assuming inflation averages 2% per year, the target nominal return is 7% per year compound over seven years.
Artemis Investment Managers' Mark Niznik and William Tamworth will run the UK Smaller Companies strategy, Comgest has been selected to run the pan-European strategy, and First State Investments's Martin Lau and team will manage the Asia-Pacific including Japan strategy.
JO Hambro Capital Management's Ben Leyland and Robert Lancastle are in charge of the global segment of the portfolio, while Lansdowne Partners will select investments for the 'clean energy' segment.
It also intends to develop an ISA savings platform (in 2018) as a low-cost, shareholder service to provide simple and inexpensive access to retail investors.
The People's Trust has partnered with investment platform SyndicateRoom as an intermediary for the launch, enabling its investors to participate in the IPO.
Godfrey said: "The People's Trust has created our own investment chain, so that we can focus on long-term, sustainable wealth creation without the short-term pressure that plagues the investment chain.
"Short-termism may be caused by profit risk and career risk, but it has done enormous damage to investor returns and to the potential that long-term investment has to make the world a better place."
Leader of the Liberal Democrats Sir Vince Cable MP commented on the launch: "The UK needs a radical transformation of capital markets if they are to fulfil their purpose of sustainable wealth creation.
"The current system awards prizes for short-term, relative returns and this comes at a high opportunity cost to long-term productivity and GDP growth as well as poorer returns for millions of pension savers.
"The People's Trust has created a structure and purpose which is able to challenge the present model. Writing as an individual who sought in government to promote 'long-termism' in financial markets I hope thatTthe People's Trust will be a success."
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