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Doel to run new F&C UK opps fund

F&C is to offer a UK opportu- nities fund which will be run by ex- DWS manager Phil Doel.

The fund will hold 25 equ- ally weighted stocks, enabling Doel to back his favourite stockpicks. The launch follows Aberdeen takeover of DWS last autumn.

Analysts say investor confidence is picking up and their only reservation centres on how long Doel will take to settle in at F&C.

Doel’s stockpicking abil- ity was shown at DWS, where his UK opportunities fund eturned 89 per cent over two-and-a-half years compared with the FTSE All Share’s rise of 56 per cent over the same period.

F&C communications director Jason Hollands says: “The fund will not be just another alpha fund promising to invest in a range of stocks.

“It will be structured with a clear discipline to hardwire the stockpicking and pre- vent it from taking benchmark positions.”

Hargreaves Lansdown senior analyst Alexander Davies says: “Not everybody wants to be cautious and there is room for this kind of punchier product. Our only concern is that there could be a bedding-in period for Doel as he is going to have to start using F&C’s analyst base.”

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