Rathbone Unit Trust Management has introduced the Rathbone Global Companies Fund.
This unit trust aims to provide investors with capital growth over the long term by investing in around 50 stocks. The fund will invest mainly in Europe and the UK, although the US will also make up a quarter of the portfolio.
The fund will focus on key sectors including outsourcing, leisure, financial services and technology. It will have a bias towards larger companies, but will also encompass small and mid-cap stocks.
Despite recent plunges in the stockmarket which have been caused by the move towards a US recession, Rathbone Unit Trust Management believes that it is a good time to invest, because quality stocks are emerging at cheap prices.
The fund is likely to be of interest to investors who are looking for a medium risk investment. Although it invests in some high risk areas such as technology, the geographical diversity and range of sectors ensures that investment risk is spread out rather than concentrated.
According to Standard & Poor's, the Rathbone Esk fund is ranked 62 out of 163 funds based in £1,000 invested on a bid to bid basis with net income reinvested over three years to March 30, 2001.