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Extra helping from LeggMason

LeggMason Investors is targeting individual savings account (Isa ) investors by making its extra income portfolio fund of funds available as an Isa.

The fund will consist of an actively managed portfolio of UK unit trusts and open ended investment companies (Oeics). It aims to produce a gross yield of 5 per cent each year.

The company believes that looking at sectors rather than geographical areas when selecting stocks is the way forward. Consequently, the fund of funds will have the discretion to invest in sectors that can include healthcare, financials and technology.

The fund offers more diversity than funds which specialise in one sector such as healthcare. But sectors like technology can be volatile and carry more risk. This fund is unlikely to attract retired clients who depend on a regular income from lower-risk funds like corporate bond funds. But it could have long-term appeal for high net worth clients who are willing to take a gamble in different sectors.

Three LeggMason funds — UK income, global growth and new Japan have Standard & Poor&#39s five-star rankings as at February 9, 2001.


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