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Old Mutual turns an eye to UK smaller companies

Old Mutual Fund Managers has introduced the UK select smaller companies fund.

UK select is a unit trust aimed at the experienced investor who has a portfolio of investments and who is looking for an additional element that offers high returns and which has high risk.

The unit trust will identify and invest in between 50 and 60 companies spread over the old and new economies. These will include areas such as leisure, brewing, restaurants, pubs, and technology, media and telecommunications (TMT), although exposure to the TMT will be unlikely to be more 50 per cent of the fund. Old Mutual will also focus on companies that it sees as being currently undervalued.

Two examples of the some of the companies that it invest in are consumer credit provider Paragon and financial services software company AIT.

Fund manager Ashton Bradbury joined Old Mutual in September 2000. He was previously in charge of the Hill Samuel smaller companies fund for five

years and the HSBC smaller companies fund for two years.

According to Standard & Poor’s the Old Mutual UK all share mirror fund is ranked 121 out of 236 funds, based on £1,000 invested on a bid to bid basis with net income reinvested over three years to January 29, 2001.

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