People from Yorkshire are often stereotyped as being proud of their identity and careful with money, and a “first of its kind” investment fund could be said to tick both boxes – as it will only put investors’ cash into companies based in the county.

There are plenty of investment funds that concentrate on just one country, but the Yorkshire T20 Portfolio goes one step further by having a strict regional focus. If a company isn’t “made in Yorkshire”, it doesn’t go in the fund.

The asset management company behind it said the tide was turning against globalisation in the wake of the coronavirus pandemic, and this was a way for people from Yorkshire – as well as other investors – “to grow their savings while supporting local home-grown industry”.

But a fund where people’s money is being invested in a relatively small number of companies in just one region will inevitably involve more risk and volatility than one that spreads the cash more widely. And while this is open to individuals and firms, the minimum investment of £20,000 will put it out of many small investors’ reach… (cont.)