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Abbey National adds new fund to pool

Abbey National Asset Managers is offering more choice on its pooled fund range.

The pooled global equity fund is aimed at managers of group personal pension plans and trustees of defined benefit contribution schemes who are looking to expand their portfolio of investments.

Fifty per cent of the fund will be invested in UK stocks and shares, while the remaining 50 per cent will go into global stocks and shares. The fund will not benchmark any indices, but instead a panel of fund managers and analysts at Abbey National will choose stocks that are looked upon as having growth potential and stocks which Abbey National may already be investing in, such as Glaxo Wellcome and Microsoft.

Pooled global equity is a medium risk fund. By splitting the investment between UK stocks and global stocks, the fund is spreading the amount of risk between two widely different areas.

According to Standard & Poor’s the Abbey National managed pension fund is ranked 636 out of 1,821 funds, based on £1,000 invested on a bid to bid basis with net income reinvested over three years to November 20, 2000.

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