View more on these topics

Brown Shipley sets sail in UK

Brown Shipley has introduced the Solus UK Flagship Fund, an Oeic which aims for growth and income by investing in UK companies.

The new fund is a replacement for the five smaller Brown Shipley UK funds that were closed last November &#45 income portfolio, growth portfolio, balanced portfolio, UK equity income and UK growth. It is benchmarked against the FSTE All Share Index and will hold undervalued stocks in all sectors. It is managed by Paul Morgan, who also runs the Solus UK special situations fund.

Morgan joined the group in March 2001 as an equity analyst specialising in the UK market. Prior to this he was a fund and private client manager at an asset management company in York, where he helped set up the CF London York UK equity & income, select income and global growth unit trusts.

Morgan will work closely with Paul Harwood, former managing director of Merrill Lynch &#45 now investment research consultant and member of Brown Shipley&#39s investment policy committee. The IPC sets Brown Shipley&#39s investment framework, which incorporates the house view of the global economy..

The UK flagship fund will invest in companies that have a good management team, a strong market position, good growth prospects and strong cash flow. Companies which benefit from high barriers to entry, making it is difficult for a new entrant to compete, will also be in a strong position to make it into the portfolio.

With the UK economy having moved through the first stage of a recovery, as indicated by an increase in interest rates, the mood is positive for UK equities but valuation and earnings growth are the deciding factors in how it will progress. Morgan and his team will need to ensure the portfolio contains undervalued stocks which realise the anticipated earnings growth.

The main problem this fund will have is that there are many well-established funds exploring the same patch and Brown Shipley &#39s Solus UK flagship fund may suffer from a lack of name awareness and a track record.


L&G named life insurer of the year

Legal & General has been named life insurer of the year for the fifth year in a row at the British Insurance Awards, held at the Royal Albert Hall. L&G has won the title six times in total.

Close Property Investment – Fifth Special Opportunities Fund

Type: Exempt unit trust Aim: Growth by investing in UK commercial property developments Minimum investment: Lump sum £25,000 Investment split: 100% in UK commercial property developments Closing date: July 31, 2004 Charges: Initial implicit, annual 1% Commission: Initial up to 7.5% Tel: 020 7426 6216

George dismisses fears of house price crash

Former governor of the Bank of England Lord George of St Tudy dismissed speculation of a housing market crash yesterday. Speaking to BBC Radio 4&#39s Today Programme he said that interest rates will continue rising but not drastically and that rising interest rates are a sign of a strengthening economy. Lord George said the UK […]

&#39Tory Govt would shake up FSA&#39s intrusive regime&#39

The future of the FSA in its current form could be in the balance if the Conservative Party wins the next general election. In an interview in the Sunday Telegraph, Shadow Chancellor Oliver Letwin attacks the “intrusive regulatory regime” and says if the Tories are elected there would be a change of regime at the […]

Inheritance Tax, a tax on the wealthy? Urban myth or fact?

By Kim Jarvis, Technical Manager with Canada Life’s ican Technical Services Team. Inheritance tax has been around in some form since 1796. Estate duty dates back to 1894 and over the years this tax has evolved into the inheritance tax (IHT) we know and love today, which was introduced in 1986 as a replacement for […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment