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Investec calls up new mobile technology

Investec calls up new mobile technology

Wireless World Fund

Type: Ucits.

Aim: Growth by investing in mobile access to the Internet.

Minimum investment: A shares – $3,000, B shares – $250,000.

Investment split: 47 per cent US, 11 per cent Sweden, 10 per cent UK, 9 per cent Israel, 8 per cent France, 6 per cent Finland, 4 per cent China, 3 per cent Germany, 3 per cent Korea.

Place of registration: Dublin.

Yield: Nil.

Charges: Initial – A shares 5 per cent, B shares nil, annual — A shares 1.75 per cent, B shares 1.3 per cent.

Commission: Subject to negotiation.

Tel: 020 7597 1900.

Alan Lakey, partner, Highclere Financial Services

Nigel Chapman, investment manager, James Brearley & Sons

Terry Stevens, proprietor, Centre Financial Services

Richard Watkins, associate director, Cavendish Financial Management.

Suitability to market 7.3

Investment strategy 7.0

Past performance 5.8

Company’s reputation 7.0

Charges 6.3

Commission 6.5

Product literature 5.8

Investec Asset Management’s new wireless world fund invests in the fast moving wireless technology sector, involving companies that develop or make use of mobile phones that can access the Internet.

Looking at how well the fund fits into the market, Watkins says: "Wireless world is consistent with the increasing trend towards thematic investment. Furthermore it requires an extensive knowledge and understanding of wireless technology and its application. Investec has distinguished itself as an innovative fund manager in the new economy and this fund should be seen as a market leader and not a geeky specialist fund."

Chapman agrees that it fits into the technology sector as one of the themed products entering the market, while Lakey says: "Following the thematic approach recently trumpeted by Fidelity, Investec is following a more specialist route that will appeal to a section of aggressive investors."

Stevens adds: "This product is a broader based tech fund incorporating investments in those who use as well as those who develop technology of this kind. This fund may provide a more balanced approach rather than a pure tech fund."

Turning to the type of clients that the product is suitable for, Chapman says: "This is for the client who is willing to go for specialist or high risk funds," while Lakey says: "This is suitable for those who already have a balanced portfolio and who now wish to adopt a more dynamic investment attitude."

Stevens thinks that the fund is suitable for: "Large portfolio clients who are willing to risk a small proportion of their investments into a relatively risky fund. They must take a long-term view. It might also interest those who are actually employed in the technology or telecommunication industries."

Watkins adds: "This fund is for any client who is looking for substantial capital growth and wants to benefit from the future development of wireless technology without the risk of direct investment with individual companies."

The panel disagree on the types of marketing opportunities that the fund provides. Stevens and Chapman feel that it offers no opportunities at all and Lakey says: "Marketing opportunities are limited due to the specialist nature of the fund."

However Watkins says: "There are substantial opportunities here. Wireless technology is affecting every aspect of our daily lives, so illustrating its effect will be a very effective marketing tool."


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