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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



Portman Building Society…

Portman Building Society has raised £13,500 for Macmillan Cancer Reliefwith its 2000 Calendar Charity Appeal.A total of £27,000 was raised through donations from Portman members. Theother £13,500 has been split between 14 charities in the society&#39s mainoperating area.Portman chief executive Robert Sharpe says: “I hope that this will helpMacmillan Cancer Relief meet the obj-ectives of […]

Review work at a halt as FSA delay drags on

IFA networks are complaining that they have departments sitting idlebecause the FSA is making them wait a year for a pension reviewrecalculation.The regulator withdrew a formula relating to some transfers in phase twoof the pension review last autumn, saying it was wrong.Industry sources say they were led to believe that the correct formulawould be issued […]

Liverpool Victoria hires new chairman

MoneyMarketing can exclusively reveal that Liverpool Victoria Friendly Society has announced that Stephen Moran will take over as chairman from May 16.Moran, former director of insurance and investment at Lloyds TSB until his retirement in 1997, will succeed current chairman Andrew Noble who is retiring.The change will be formally announced until the company&#39s annual general […]

NU offers range of flexible mortgages

Norwich Union has set up a range of flexible mortgages to replace itsresidential mortgage products.The new loans include three flexible mortgages with varying discountoptions and a value tracker, which Nor wich Union says offers low interestrates and complete transparency.There are no lock-ins or tie-ins and all mortgages under £500,000 are fee-free.Mortgage business development manager Ewan […]


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