Old Mutual Fund Managers UK select mid cap fund is a unit trust aimed at the experienced investor who is looking for growth and seeking to add a medium-risk fund to an existing portfolio.
UK select mid cap will invest in around 50 companies in the FTSE 250 index, all chosen for their long term potential and their ability to grow. The fund will aim to outperform the FTSE 250, culling the bad performers and replacing them with new ones as needed. The companies are still in the process of being chosen.
The fund will be managed by Ashton Bradbury and Richard Moore. Bradbury has been the head of UK equities at Old Mutual since joining the company from Hill Samuel Asset Management in September 2000. He has also managed the Old Mutual UK select smaller companies fund since its launch in February 2001.
Moore is scheduled to join Old Mutual on October 29, 2001 from Singer & Friedlander, where he runs the companys UK equities.
This unit trust is one of only 10 funds that specifically singles out and invests in the UK mid cap area, or the FTSE 250 index.
According to Standard & Poors the Old Mutual UK select smaller companies fund is ranked 4 out of 77 funds based on £1,000 invested on a bid-to-bid basis with gross income reinvested over six months to October 24, 2001. Of the rest of Old Mutuals 27 funds, five are first quartile, 14 are second quartile, four are third quartile and three are fourth quartile.