# Troy Asset Management Ltd

> Troy Asset Management Ltd is an SEC-registered investment advisory firm in London, United Kingdom, registered since 2022, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 30, 2026.

- CRD: 319174
- Filed as: TROY ASSET MANAGEMENT LTD
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: London, United Kingdom
- Filing period: October 2026
- Form ADV filing dated: July 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/319174
- AdvisorCensus page: https://advisorcensus.com/firm/troy-asset-management-ltd-london-319174

## Quick answers

**How is Troy Asset Management Ltd compensated?**
On its Form ADV (Item 5.E, October 2026), Troy Asset Management Ltd reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**How much does Troy Asset Management Ltd charge?**
Its Form ADV Part 2A brochure dated July 30, 2026 states: Asset-based fee: 0.6% to 0.7% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Troy Asset Management Ltd located?**
Troy Asset Management Ltd's principal office is in London, United Kingdom, according to its Form ADV.

**Is Troy Asset Management Ltd registered with the SEC or a state?**
Troy Asset Management Ltd is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 319174.

**How much does Troy Asset Management Ltd manage?**
Troy Asset Management Ltd reports $14,697,092,098 in regulatory assets under management in its Form ADV filing dated July 30, 2026 (100% discretionary).

**How have Troy Asset Management Ltd's assets and staff changed since 2022?**
In the Form ADV data for Troy Asset Management Ltd: Regulatory assets under management: $19,676,249,121 in the October 2022 data and $14,697,092,098 in the October 2026 data, down 25%. Total employees: 39 in October 2022 and 45 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Troy Asset Management Ltd serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (19); other (4); charitable organizations (3).

**Which custodians does Troy Asset Management Ltd use?**
Troy Asset Management Ltd's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank Julius Baer & Co Limited, Pershing Securities Limited, State Street Bank and Trust Company and The Northern Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does Troy Asset Management Ltd report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/319174

**What changed in Troy Asset Management Ltd's recent Form ADV filings?**
In the August 2026 filing data: Employees performing advisory functions went from 12 to 11. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated July 30, 2026)

- Asset-based fee: 0.6% to 0.7% a year (a range, as the brochure states it)

> We expect management fees for a U.S. separately managed account to typically range from 0.60%-0.70%.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Bank Julius Baer & Co Limited
- Pershing Securities Limited
- State Street Bank and Trust Company
- The Northern Trust Company

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $14,697,092,098
- Discretionary: $14,697,092,098
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 19 | $13,881,636,685 |
| Charitable organizations | 3 | $231,624,368 |
| Other | 4 | $583,831,045 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2022 (4 years)
- Employees: 45 total, 11 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- taml.co.uk
- LinkedIn @TROY-ASSET-MANAGEMENT-LIMITED
- YouTube @TroyAssetManagement

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $19,676,249,121 | 39 | April 26, 2022 |
| October 2023 | $18,200,693,698 | 45 | July 28, 2023 |
| October 2024 | $15,392,923,915 | 45 | July 29, 2024 |
| October 2025 | $14,799,512,418 | 43 | June 10, 2025 |
| October 2026 | $14,697,092,098 | 45 | July 30, 2026 |

Regulatory assets under management: $19,676,249,121 in the October 2022 data and $14,697,092,098 in the October 2026 data, down 25%.
Total employees: 39 in October 2022 and 45 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Employees performing advisory functions went from 12 to 11.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Troy Asset Management Ltd (CRD 319174): Form ADV filing data as of October 2026.