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Framlington offers discount on fund amid hopes for strong health sector

Framlington is offering Isa investors a 1 per cent discount on its health fund because it believes the fundamentals for investing in the healthcare sector look good.

The Framlington health fund invests in four sectors – biotechnology, drugs and drug delivery, medical services and medical devices.

Framlington says the medical devices sector will benefit from the launch of new heart and hip replacement products while healthcare services could receive a boost from well-managed, investor-owned hospital groups increasing market share.

The fund fell by 40.4 per cent in 2002 but has grown by 4.88 per cent over three years, 39 per cent over five years and 197 per cent over 10 years. It has seen 728 per cent growth since launch in 1987, according to Standard & Poor&#39s, based on an offer-to-offer basis with net income reinvested.

Framlington says the long-term trend for the world&#39s elderly population to increase will act as a continued driver for demand for healthcare.

The fund has an initial charge of 5.5 per cent, discounted to 4.5 per cent until the end of the tax year, and the annual charge is 1.5 per cent.

Marketing director Craig Walton says: “There are powerful arguments for long-term investment in healthcare, whatever your view of short-term market prospects. In 2002, share prices of many healthcare stocks bore little relation to the positive underlying performance of the companies. This, together with the lack of a strong year-end rally. means that we feel the sector is well positioned entering 2003.”

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