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Deutsche plans &#39safer&#39 tech fund

Deutsche Asset Management is rolling out a New Economy fund which it claims will have a less risky approach than typical technology funds.

The fund is due to launch on October 9. It will invest in a broad range of technology companies around the world, focusing on safer high-quality companies that are expected to perform well in the long term.

The fund will be managed by Clare Flynn, who runs Deutsche&#39s UK pension fund and is responsible for research in the technology sector.

Deutsche has also created a team of 20 analysts located in five countries to find the best new economy companies around the globe.

The fund will be available as an Oeic or through an Isa. It has a minimum initial investment of £1,000. Initial charge for the Oeic will be 5.25 per cent or 3.25 per cent for the Isa. Annual charge is 1.5 per cent.

Chartwell financial adviser Brian McLean says: “If they are selling it on the basis that it is a relatively safe fund, I think it will be very well received. But there is a risk the name will be a little misleading.

“Over the last nine months, the term new economy has been associated with very volatile stocks. They will have to pull off a good marketing campaign.”

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