Buffettology Smaller Companies Investment Trust intends to raise a minimum of 100 million pounds ($127.52 million) via an initial public offering on the London Stock Exchange, it said in a statement.
The trust will mainly invest in companies listed or traded in Britain, through a portfolio of 30-50 companies with market
capitalisations from 20-500 million pounds.
Sanford DeLand will be the trust's investment manager, led by Keith Ashworth-Lord, CIO of Sanford DeLand Asset Management.
Sanford DeLand manages around 1.4 billion pounds across two open-ended funds.
"The UK small cap market offers excellent investment
opportunities to experienced managers who know what to look for and have the freedom to take a long-term view," Ashworth-Lord said.
(Reporting by Carolyn Cohn; Editing by Rachel Armstrong)