Rowan & Co has joined forces with City Financial Managers to bring the dynamic theme fund unit trust.
A fund of funds administered by City Financial with the investment management carried out by Rowan & Co, it will invest in 15 different technology related funds. These include funds initially from Gartmore, Framlington, Mercury and Aberdeen.
The funds will be chosen by Rowan in a series of face to face meetings with the fund managers, concentrating on how they pick stocks, if they take a value or growth approach and the exact risk profile.
Aiming for growth, the fund is designed to appeal to investors who might have been put off technology funds by the recent failure of dotcom companies such as Clickmango and Boo.com.
The recent volatility of the technology market has cast a cloud over what was previously a buoyant, if high-risk, area of the market. By using a strict selection criteria the dynamic theme fund is hoping to encourage medium risk investors who might still be wary about exposure to this market.
According to Standard & Poor's the City Financial Rowan portfolio fund is ranked 30 out of 58 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years.