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Product Matters

Friends Ivory & Sime has announced it is

setting up a new retail investment business, Isis, with the launch of

three Oeic funds under the new brand on September 3.

The Isis UK dynamic fund, to be managed by Rodger McNair and Richard Bell,

will by nature be higher risk, with stockpicking likely to be both

selective and aggressive. It will invest in companies the managers believe

will offer the most attractive returns, regardless of whether they are

perceived as growth or value situations.

The Isis UK smaller markets fund, to be managed by Nicholas Malins-Smith,

will invest mainly in UK-listed smaller companies but will also take

advantage of a small number of pre-flotation companies with growth

potential. The manager is to focus on those companies best placed to

deliver above-average earnings-per-share growth in the medium term.

The Isis Aim growth fund will be managed by Bill Brown, who has extensive

experience and success in the Alternative Investment Market. He was

responsible for the launch of the highly successful Aim Trust plc in 1996.

Brown believes that, despite the unprecedented level of volatility over

the past 18 months, there are good buying opportunities from the decline in

market values of good quality companies.

In many ways, it is a whole new venture for Ivory & Sime but it is not

exactly new territory for the industry as a whole. We are especially

hopeful for Brown, who has more than proved himself with his expertise in

the Aim, and there is no reason his success should not continue.

Darius McDermott is managing director of Chelsea Financial Services

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