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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.”


Genesis Home Loans – Genesis Sapphire Fixed Rate

Monday, 8 October 2001.Type: Self-certification fixed rate.Fixed term: Until April 1, 2003.Fixed rate: 7.24 per cent.Minimum loan: £25,001.Maximum loan: Up to 75 per cent of valuation subject to a maximum of £250,000, up to 60 per cent subject to a maximum of £400,000.Income multiples: 3.75 times principal income plus second or 3.25 times joint.Arrangement fee: […]

&#39With-profits boosted by manipulating figures&#39

Skandia has made a scathing attack on with-profits in its response to the Sandler review, saying figures are manipulated to boost sales and mislead consumers.Britannic Asset Management is calling on the Government to provide means-tested free advice in its Sandler response, saying this would encourage more people to save than child trust funds.Skandia says reduction […]

Railtrack: shares suspended

Institutional and private shareholders, including fund managers, are looking to sue the Government over its decision not to provide funding to rescue Railtrack after the company&#39s shares were suspended before the market opened on Monday.A number of UK retail equity funds, including Investec and Deutsche funds, hold significant shares in the collapsed rail infrastructure company. […]

Surge in stakeholder designations up to deadline

Life offices have experienced a huge surge of stakeholder designations in the week up to the October 8 deadline for compliance. Norwich Union says it has this week experienced designation levels over nine times the level of eight weeks ago. But it is estimated around 500,000 employers are yet to act to ensure they avoid […]

‘How to…audit your auto-enrolment scheme compliance’

Avoid pension penalties with our auto-enrolment checklist

According to the Pensions Regulator’s annual commentary and analysis report released this month, 785 potential non-compliance cases were referred for investigation, with 23 auto-enrolment compliance notices issued. And they predict that the use of their statutory powers is only going to increase.


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