View more on these topics

Merrill Lynch searches for growth

Merrill Lynch Investment Management has established the MKIF European growth fund, a Luxemburg-based Sicav which invests in European large and mid-caps.

Olivier Rudigoz, who has 14 years&#39 experience of managing European funds, will run this fund. He started his investment management career as part of the European equities team at Baribas Asset Management in France. He then worked for Putnam Investments in Boston, before joining Merrill Lynch Investment Management in 1999.

When selecting stocks from the fund, Rudigoz will go through a three-stage bottom-up filtering process. First, he looks at all European stocks above a certain market capitalisation. This provides him with a growth universe of approximately 500 stocks, which are reduced to around 300 stocks.

He will then rank the 300 stocks in order of attractiveness to provide a research list. These stocks are then examined, starting with the most attractive first, in terms of the industry they are in and the individual characteristics of the company. Rudigoz will analyse the cash flow and growth potential of each stock and will make assumptions about future growth prospects on the basis of his findings.

The final stage is the creation of a buy list, where Rudigoz considers factors such as risk control and how much of each stock to have in the portfolio.

Robust economic growth looks unlikely in Europe at present, so modest growth is all that can reasonably be expected. There may be some companies who can generate growth in difficult conditions, but to find them Rudigoz must ensure his filtering process is spot on.

According to Standard & Poor&#39s the MLIF European value fund is ranked 30 out of 233 funds based on £1,000 invested on a bid-to-bid basis with gross income reinvested over three years to November 15, 2002.


Fund focuses on health privatisation

Healthcare investment specialist Chart Investment Management is sponsoring the launch of the Cheney healthcare fund No 1, a loan stock fund aimed at opportunities from the growing involvement of the private health sector in the UK.The closed-end fund is seeking to raise £25m, which it will lend to growing companies in the sector, particularly care […]

Enterprise Investment Schemes – Lacomp British Enterprise EIS Funds

Friday, 22 November 2002 Aim: Growth by investing in four to seven companies at an early stage of development and companies seeking to expand Opening-closing dates: June 21, 2002-December 18, 2002 Charges: Initial 6.5%, annual 1.5% Commission: Initial up to 4%, renewal 0.5% in first three years Tel: 01276 475123

Busting the trust busters

“Trust-busting” or “pension liberation” schemes offer clients immediate cash from their pension funds, whatever their age.Although Opra has been aware of such trust-busting schemes since 1997, it is only recently that procedures designed to stop such payments have been introduced in the form of IRSPSS Pensions Update 132.These schemes appear to all intents and purposes […]

Baille Gifford launches child savings plan

Baillie Gifford has announced the launch of a Children&#39s Savings Plan which provides a flexible way to buy and hold shares in its range of six investment trusts.Savings start at a minimum of £30 a month or a lump sum of £250. There are no management charges or commission beyond stamp duty on share transactions […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm