Framlington's Select investment-trust Pep aims to provide investors with a wider investment choice by offering a selection of internal and externally managed trusts.
The Pep would appear to be aimed at the more speculative investor as it concentrates on smaller-cap companies or specialised overseas trusts.
It provides two options. The Framlington Option has a choice of four UK Framlington managed trusts. These trusts are invested in either the smaller companies or income share sectors of the UK investment-trust market. The second option offers a range of trusts from seven external managers. The trusts available cover a wide range, with the proviso that 25 per cent is within the Framlington range of trusts.
Standard & Poor's Micropal figures show the performance of the externally managed TR European Growth trust is excellent and is ranked first out of 13 trusts in its sector, returning £4,754. These figures are based on £1,000 invested on a bid-to-bid basis with net income reinvested, from December 1, 1992 to December 1, 1997. The Framlington 1000 smallest companies trust returns £2,248 and is ranked ninth out of 36 trusts.