View more on these topics

Framlington blocks Isa for biotech in bid to warn of risk

Framlington is not offering an Isa option on its new biotech fund in a move aimed at preventing investors who do not understand the fund&#39s risk from buying it.

The new fund, to be run by star manager Antony Milford, is the follow-up to the top-performing Framlington health fund, which was one of this year&#39s top Isa season sellers.

However, the new fund will invest almost exclusively in the biotech sector and will be higher-risk. The Framlington health fund invests just 38 per cent in the biotech sector.

As well as not offering the fund for Isas, Framlington has also printed an extra-large risk warning on the front of the fund&#39s prospectus.

The fund opened this week and will have a 1.5 per cent discount on its initial charge of 5.5 per cent until November 26. Minimum investment is £1,000 or £50 a month.

The annual charge on the fund is 1.75 per cent. Commission is 3 per cent initial, but there is no trail.

Marketing director Craig Walton says: “Although we think this is an outstanding investment opportunity, this fund will be more volatile than the health fund. We wanted to make sure we gave the right signals. We think that this should play a small part of a balanced portfolio.”

Recommended

Last chance for stakeholder

Down at the “Last Chance for Stakeholder” saloon the players are getting ready for one last throw of the dice.All the talk is of compulsion – if the low earners will not contribute voluntarily then it is up to the Government to force them into stakeholder pensions. Achieve this and stakeholder suddenly starts to make […]

GE Life launches balanced income and growth plan

GE Life is launching a balanced income and growth plan which offers fixed annual gross income of 8 per cent for five years. It also offers the flexibility for investors to either take monthly or annual income with the option of investing for growth. Return on capital is linked to the performance of the Dow […]

Mortgage 2000 goes for two-year self-cert market

The self-certification market is the target for the 3.99 per cent fixed-rate mortgage from Mortgage 2000.The mortgage is fixed at 3.99 per cent until January 1, 2004 and is available to both first-time buyers and people looking to remortgage. It is funded by Verso. After the fixed-rate period the mortgage will revert to a rate […]

Paradise Lost

My wife and I have been considering buying a holiday home but are unsure whether it is a sensible thing to do. What would your advice be about this and what are the alternatives? It is an ambition of many people to own their own home in paradise, where the sun always shines and the […]

Pension - thumbnail

David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com