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Fleming heads for the sales

Fleming Asset Management is offering a fund which aims to capitalise on

cheap stocks through a value-investing strategy.

The Fleming UK Strategic Value fund is being launched on May 8 and is

designed to deliver long-term capital growth by investing in UK companies

using a pure value style of investing.

The value approach concentrates on picking quality stocks which investors

believe will eventually rise to meet their intrinsic value.

These attractively valued shares provide an antidote when growth stocks,

such as those in the technology and telecoms sectors, fall out of favour.

There is a 2 per cent discount on the fund&#39s initial charge of 5.5 per

cent until June 30 on investments of £2,000 or more. Annual charge is 1.5

per cent. Commission is 3 per cent initial and 0.5 per cent renewal.

Fund manager Andrew Spencer says: “The fund offers the more experienced

investor the opportunity to take advantage of around 140 carefully chosen

bargain stocks – half from the FTSE 100 and half from the FTSE 250.

“But a cheap stock is not always a value stock. We will only choose stocks

that are cheap because they are companies that are currently out of fashion

or which have suffered mismanagement and are in the process of being

restructured.”

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