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Isis gets dynamic

Isis, the new retail arm of Friends Ivory & Sime, is getting dynamic.

Its new UK dynamic fund will aim for long-term growth and is pitched at experienced investors with a high-risk approach to investing.

Structured as an open-ended investment company (Oeic), the fund will invest in a portfolio of between 40 and 50 UK stocks drawn from a wide range of sectors and not concentrating on any one index.

Edinburgh-based fund managers Rodger McNair and Richard Blair will adopt a bottom-up strategy for picking these funds. This will involve careful stock picking, looking at the performance and the management of the companies on offer and choosing those which show superior skills.

Some of the companies chosen for the Oeic will include supply chain management company Excel, healthcare software company iSoft, household products company Reckitt Beckinser and Bloomsbury Publishing, the company that publishes the Harry Potter novels.

McNair joined Friends Ivory & Sime in 1990 and now manages the Friends Ivory & Sime investors capital trust. Bell joined the company in 1999 and manages the optimum income trust.

The past year has been a volatile one for many stocks. Based on data supplied by Standard & Poor’s, if £1,000 had been invested on a bid-to-bid basis in the UK all companies sector on August 29, 2000, it would now be worth £848.40 on August 29, 2001.

Looking at the managers’ track record, the investors capital trust has not been running for a year and no data is available. However, according to Standard & Poor’s the Friends Ivory & Sime optimum income investment trust is ranked 13 out of 30 funds, based on £1,000 invested on a mid-to-mid basis with net income reinvested over one year to August 27, 2001.

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