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Framlington presses ahead

Framlington is to push ahead with plans to launch a biotech fund next month despite continued uncertainty in the world&#39s equity markets.

The fund will be run by Antony Milford, who also manages the £480m health fund. The biotech fund will be slightly more aggressive, holding a portfolio of around 70 stocks compared with around 160 in the health fund.

It will invest about 80 per cent of its portfolio in the US. The fund is planned for launch in early November but is still subject to FSA approval.

To roll out the fund to IFAs, Framlington is planning a national conference call with Milford on October 23 while a London roadshow is scheduled for November 7.

Marketing director Craig Walton says current market conditions do not change the long-term strength of the biotech sector. He says: “Stock prices are much lower and the news flow on the companies is getting much better.”

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