Following the recent fall in technology stocks, Jupiter Unit Trust Managers has introduced the Jupiter Undervalued Assets Fund, which is aimed at investors seeking growth.
It will invest mainly in traditional stocks in sectors such as construction, transport and food retailing, which have been overtaken by newer technology-orientated stocks. These traditional stocks have been largely unaffected by the recent fall in the technology market, and Jupiter feels that these have a great deal of potential for growth.
Over the past few weeks the dot.com bubble appears to have burst and although investment is still going into technology stocks, attention is being turned to the more traditional stocks which have fallen out of favour but which now offer investors the chance to pick up some bargains.
According to Standard & Poor's Micropal, the Jupiter UK Growth fund is ranked 80 out of 225 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to May 1, 2000.