LeggMason Investors is hoping its global portfolio unit trust will be a hit with individual savings account (Isa) investors.
This fund of funds aims to produce capital growth over the medium to long term. It will invest in a range of sectors around the world, but mainly in financials, technology and healthcare.
These sectors are seen as good prospects because the ageing population has led to increased demand for pensions and medicine, with technology at the heart of future developments. The United Nations population division found that 10 per cent of the world's population was over 60 in 1999. It estimates that this will increase to 22 per cent by 2050.
This fund of funds could appeal to investors who want to invest in various sectors without the concentrated risk of a single sector. High net worth clients could also find it appealing because fund of funds are more tax efficient than a range of separate investments. However, technology and healthcare can be volatile so investors should expect periods of turbulence.
Six out of the eight existing LeggMason unit trusts have Standard & Poor's star rankings as at March 2, 2001. The global growth, UK income and new Japan fund have S&P five-star rankings and UK growth has four S&P star rankings. UK emerging growth and European growth have two S&P star rankings.