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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.


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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 […]


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