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Mid-cap move for Neptune

Neptune has launched a UK mid-cap fund under the management of Mark Martin.

The fund was soft-launched towards the end of 2008 and will invest in the FTSE 250 and in the 50 biggest companies by market capitalisation listed on the FTSE small-cap index.

Martin joined Neptune in February 2008 as an investment analyst and became assistant manager of the UK equity, income fund and quarterly income fund. He also covers global research on healthcare and biotechnology.

Hargreaves Lansdown head of research Mark Dampier says: “The 250 has halved in the past 12 months but I can understand the logic of such a launch as Neptune may well feel the market is set to bottom out and they have a very strong fund range in the UK so advisers may well look to it as an opportunity.”

Skerritt Consultants head of investments Andrew Merricks says: “Neptune has become a big-name player and you have to take your hat off to them. I think I would steer clear of equities for now as valuations will look more attractive in six to eight months but I will keep an eye on it.”

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