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MoneyGuru leads way with unit trust

MoneyGuru, the research website, is moving into fund management with the introduction of the Elite MoneyGuru income with growth trust.

This unit trust is an equity income fund that invests in a portfolio of between 20 and 24 UK stocks. MoneyGuru has been running a virtual income with growth portfolio since November 2000 and the unit trust will be managed by James Follows using the same investment philosophy.

Follows joined MoneyGuru in 2000 after four years as a stockbroker with Deutsche Morgan Grenfell and four and half years as a fund manager with Equitable Life. He will be joined by Ian Lancaster as the portfolio adviser. Lancaster joined MoneyGuru in 1999 and has experience of fund management with General Accident, Axa Equity & Law and SEB Fonder.

The fund will invest in companies with high yielding stocks and good growth potential that appear to be undervalued. A team of analysts will aim to spot the strengths and weaknesses of companies to help them assess the potential risks and rewards of investing in each company.

The fund managers will target shares that forecast an annual dividend increase of around 5 per cent. They will try to avoid companies that look likely to cut dividend yields in the future.

Stocks tend to have high yields when they are seen as risky or they have fallen out of favour. The number of stocks in the portfolio is very small, which increases the risks further as there is less scope for the fund managers to get it wrong. This makes the fund suitable for experienced investors who are willing to take higher than average risks.


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