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Framlington combines its strengths in global terms

Framlington is pooling the resources of its niche fund range to launch a

theme fund focusing on dominant global players.

The fund manager believes that merger and acquisition activity is going to

con tinue and global companies are going to become increasingly dominant.

The New Leaders fund being launched on May 15 will be made up of seven

themes which are healthcare, financial services, medical, telecoms,

leisure, technology and the internet.

Framlington already off ers a healthcare fund, a fin ancial services fund

and a technology fund via its Net net fund.

Neil Birrell, who will run the new fund, will liaise with managers of the

respective funds to cream off the best stocks to put in his portfolio.

It will invest in between 50 and 70 companies and likely stocks will

include companies such as Intel, NewsCorp, Pearson and Sony.

The fund will be available as a mini and a maxi Isa.

Commission of 3 per cent initial and 0.5 per cent renewal is available on

both Isas and unit trusts.

The initial charge is 5.25 per cent and annual management charge is 1.5

per cent. Minimum lump-sum investment is £1,000, with regular savings from

£50 a month.

Birrell says: “We will be identifying world leaders and those we think

will come through to be the next world leaders.

“There will be no geographical asset allocation and it will be very much a

stockpicking fund, many of which will be blue chips.”

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