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Portfolio looks to managed recovery

Portfolio Fund Management’s managed recovery fund is a unit trust fund of funds aimed at two types of investor. First, there is the cautious investor, who is looking for a low risk haven in the event that the British economy gets stormy. Second is the investor who is overweight in technology and who wants to spread the risk by investing in a more sober area of the market.

The product will invest in a wide range of funds that invest in areas of the old economy. Some of the funds that managed recovery will invest in include Fidelity special situations, HSBC UK growth & income, Newton higher income, Perpetual income and BWD UK equity income. Some examples of the companies that these funds in turn invest in include Hilton Hotels, Ladbrokes, Novar and Signet.

Portfolio feels that the old economy was one area of the market which has underperformed over the past few years and that as a result this sector will become more popular as investors swing away from high risk technology funds.

According to Standard & Poor’s the Portfolio fund of funds is ranked 2 out of 60 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to February1, 2001.

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