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European flavour for Govett&#39s TMT trust

AIB Govett Asset Management is offering a new European TMT fund inspired by the success of the technology holdings in its European strategy fund.

The Govett European technology fund aims to achieve long-term capital growth by investing in pan-European companies, excluding the UK, which either develop or utilise new technology.

The fund holds around 50 stocks and is managed by Peter Kysel using a thematic approach. Its biggest holdings are currently in the telecoms sector, including Alcatel, Ericsson and Nokia.

Govett is offering a 1 per cent discount on the initial charge of 5 per cent until November 30. Annual management charge is 1.5 per cent.

Initial commission is 3 per cent with 0.5 per cent trail. Minimum investment is a lump sum of £500 or £25 a month.

Kysel says: “This is a great time to invest in Euro tech stocks. The outlook for European equities is still very positive and the technology sector looks particularly appealing. Economic conditions remain very promising and technology revenue as a percentage of GDP is expected to grow from 2.6 per cent in 1999 to 4.7 per cent in 2005.”

Sales and marketing director Graeme Sinclair says: “We are launching at a time of considerable IFA support for European stocks.

“The added interest in the technology sector, coupled with a very sound stock selection process, makes this new fund a very compelling pro-position. We are looking forward to a very positive response from IFAs.”


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