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Pegrum heads high-risk fund as Insight bids to be major player

Insight Investment is bolstering its bid to become a major player in the UK

retail market with an aggressive, high-risk fund for star manager Neil

Pegrum.

The UK dynamic fund, which opens next week, will be a multi-cap fund

holding a highly concentrated portfolio of between 25-40 undervalued stocks.

It will be benchmarked to the FTSE All-Share index and seek long-term

capital growth through investing in stocks in any UK sector.

The fund differs considerably from Pegrum&#39s previous fund – the M&G

British opportunities fund – which had dozens more holdings and a minimum

33 per cent large-cap requirement.

It outperformed the FTSE All-Share by more than 20 per cent over three

years and five years.

But Pegrum says the focused nature of the new fund will boost the chances

of delivering strong performance as he and deputy manager James Grieve will

have to have real conviction in each stock to include it in the portfolio.

Charges are 5.25 per cent initial and 1.5 per cent annual. Commission is 3

per cent and 0.5 per cent trail.

Chelsea Financial managing director Darius McDermott says: “The M&G

fund was much less risky but Pegrum is a proven stockpicker. The new fund

will be closely watched but will not appear on our buy list just yet.”

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