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Royal London&#39s £130m European growth fund is sixth out of 1,495 unit trusts over the last year with growth of 31.5 per cent.

The fund is one of the few in the top 10 to invest in Europe. Most of the others are North American funds. The Royal London fund, which is managed by Mark Greenhoff, is weighted mainly in services and financials.

Consumer goods and services make up 32.5 per cent of the fund and financials account for 23.5 per cent of the portfolio. Basic industries contribute 14.2 per cent and capital goods make up 11.8 per cent. The remaining 8.1 per cent of the fund is invested in utilities.

The fund is overweight in France and Spain and underweight in Germany although Royal London says this is of less significance than the individual stocks held in the fund.


400 IFAs ask about joining Portfolio &#39network&#39

IFA Portfolio&#39s pseudo network Anglo Caledonian is claiming to have had an “enormous” response which could make it the third-biggest network. Chief executive Ian Mackinnon says Portfolio has received 400 enquiries from IFA firms which are interested in joining. If all became members, the new network would rank in size behind DBS and Countrywide. Portfolio […]

Offices scratch heads over Govt earmarking data

The Government appears to be confused over the number of pensions earmarked by the courts last year after life offices accused it of getting the numbers wrong. Earmarking allows divorced couples to share pension payments. It was introduced in July 1996 to benefit women who may have been left without adequate pension provision after divorce. […]


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