View more on these topics

Boston fund firm makes UK debut

MFS International UK, a subsidiary of Boston-based fund management firm MFS Investment Management, is making its debut in the UK retail market with a UK equity fund.

The fund is one of three Oeics introduced as the company expands across Europe. It will consist of a portfolio of 20 to 35 UK stocks selected by a team of eight analysts. Headed by Anthony Kingsley, the team manages the Luxemburg-based European equity fund for MFS.

With the UK equity fund, each analyst will cover two or three sectors and use a bottom-up approach. They will look for stocks that appear undervalued or which have good growth potential. Every 18 months, they will swap sectors to gain experience of managing different areas.

UK funds are popular as the economy remains strong and this fund could be well placed for any upswing in share prices. But many UK funds consist of concentrated portfolios and MFS will have to compete in quality research.

According to Standard & Poor&#39s, the MFS European equity fund is ranked 28th out of 285 funds based on £1,000 invested on a bid-to-bid basis with gross income reinvested over one year to December 21, 2001.

Recommended

Genesis Home Loans 2-year fixed

Genesis Home Loans, fixed mortgageFixed term: two yearsFixed rate: 4.99%Minimum loan: £40,000Maximum loan: £250,000Income multiples: 3.25 + 1, 2.75 x jointArrangement fee: £325Redemption fee: 6 months interest at SVR until 3/3/05Conditions: no MIG, maximum LTV 102% first time buyersIntroducer&#39s fee: refer to packagerTel: 01832 275 044

First State Investments – British Mid-Cap Fund

Friday 18 January, 2002 Type: Oeic. Aim: Growth by investing in medium-sized UK companies. Minimum investment: Lump sum £1,000, monthly £50. Investment split: 100 per cent invested in medium-sized UK companies. Isa link: Yes. Pep transfer: Yes. Charges: Initial 4 per cent, annual 1.4 per cent. Special offer: Initial charge reduced to 3.5 per cent. […]

Imla appoints Tony Ward as new chairman

The Intermediate Mortgage Lenders Association has appointed Britannic Money chief executive Tony Ward as its new chairman. He takes over from Paragon Mortgages managing director John Heron who becomes vice chairman. Ward says: “Imla will continue to play a vital role in ensuring there is meaningful debate on the format of mortgage regulation and other […]

Gartmore launches fixed income fund

Gartmore is launching a new fixed income fund investing in bonds and other securities and focusing on capital security.The Gartmore Monthly Income Fund will be run by senior investment manager Eran Peleg, a member of Gartmore&#39s 20-strog fixed income team.The fund anticipates income of 7.5 per cent a year, with a minimum investment of £1000 […]

India: too big to ignore?

By Kunal Desai, head of Indian Equities, Neptune  India is officially the world’s fastest-growing major economy and remains firmly on track to become the third-largest economy by 2030, overtaking Japan and Germany. As an accelerating labour force combines with increasing labour productivity, is India getting too big to ignore? Click here for full article   […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment