Insight Investment's institutional pan-European growth fund is to be made available to retail investors before the HBOS subsidiary unveils its new product range later this year.
Insight, previously Clerical Medical Investment Management, expects retail investors to be able to buy the £98m fund from October if the FSA permits the move. The fund will be renamed pan-European select opportunities.
Richard Wiseman, who has 16 years experience of UK and pan-European investment, will continue to manage the fund, which will be benchmarked against the FTSE World Europe (inc UK) index and hold around 60 stocks.
It will focus on companies where Insight sees fundamental change driving earnings growth above market expectations – particularly at the mid-cap level – and seek valuations discrepancies between UK and continental companies.
Commission will be 3 per cent with 0.5 per cent trail.
Wiseman says: “The fund is well positioned to take advantage of the current market conditions whereby the valuation of many strong companies is tainted by the weaknesses of others, creating attractive opportunities across Europe, particularly in the mid-cap arena.”