Solus Investment Funds has unveiled its US select opportunities fund, which invests in a portfolio of between 50 to 60 stocks in North America, including Canada and Mexico.
This open-ended investment company (Oeic) is the first US fund to be added to the Solus range. The timing may seem odd given the impact of the terrorist attacks in the region, but this fund was planned before the tragedy. The company have taken a long-term view on the US market and saw no reason to suspend the fund.
The fund manager is Christian Bertelson, who is the US-based manager of Aberdeen's American opportunities unit trust. His stockpicking skills will be vital to the Solus fund, which is actively managed across all sectors within the US. Bertelson will focus on mid-size companies and will go for undervalued stocks with proven business models, solid dividend yields and with good prospects for growth.
The problems in the US mean that many good stocks are undervalued and if investors are brave enough to get behind these stocks, they are likely to reap the benefit when the stockmarket recovers. However, this fund may suffer from the effects that the conflict has had on the economy as many investors are running for cover until the uncertainty is over.
According to Standard & Poor's, the Solus growth portfolio fund is ranked 23 out of 65 funds based on £1,000 invested on a bid-to-bid basis with net income reinvested over one year to September 24, 2001.