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Framlington biotech fund adds Isa link

Framlington has made its biotech fund available for Isas, just two months after it said the fund would not be Isa-able because many investors would not understand the risk.

The biotech fund, which was launched in November, is managed by star Framlington health manager Antony Milford. However, unlike Framlington Health, which has less than 40 per cent in the biotech sector, the new fund invests solely in biotech and carries much greater risk.

At the biotech fund&#39s launch, Framlington said it would not offer the product within an Isa, to ensure investors who did not understand the risk in investing in such sectors, did not buy the fund.

But Framlington now says it has had a change of heart, after IFAs asked for the fund be made Isa-able. However, it says it will not promote the fund through direct advertising and mailshots.

Framlington marketing director Craig Walton says he believes that it was the right decision not to make the fund available for Isas at launch. He says: “We got a lot of demand for an Isa from the IFA market. Therefore, we decided to go along with it.”

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