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Prime time for Royal & Sun Alliance

Royal & Sun Alliance has put the focus on individual stock selection with the introduction of the UK prime fund.

This Oeic aims to deliver capital growth by investing in a portfolio of around 30 stocks. Investors who want to draw income from the fund can make cash withdrawals under a facility called selector which is available if at least £2,500 is invested.

Some UK growth funds aim to dilute investment risk through a portfolio of around 100 stocks. The UK prime fund has a more concentrated portfolio which provides potential for higher rewards but is offset by higher risk.

The gap between the best-performing and worst-performing stocks is becoming wider, especially with the recent volatility of the UK stockmarket, so the stockpicking process is crucial to the fund&#39s success. Stocks will be selected by fund manager Mike Felton on the basis of in-depth research conducted by Royal & Sun Alliance equity analysts. The portfolio will be monitored on a daily basis.

Felton has been with R&SA since 1989 and has been managing the equity fund since 1998.

According to Standard & Poor&#39s, the R&SA equity 1 fund is ranked 67th out of 306 funds based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to March 20, 2001.

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