View more on these topics

Threadneedle predicts healthy future for fund

Threadneedle is launching a global healthcare fund next week in a move which marks the first time in almost three years that it has introduced a new equity product.

Managed by head of global pharmaceuticals Forsyth McGarrity, the fund will launch on July 15 with around £5m of internal money. It will invest in healthcare providers, pharmaceuticals, biotechnology and medical supply firms.

The fund will concentrate on a portfolio of up to 40 stocks but will not be extensively marketed until it has built up a track record over the next three years. Other thematic funds may also be launched after this three-year period.

Threadneedle says it has chosen to launch the fund, which will be benchmarked against the Dow Jones Global Healthcare index, in the healthcare sector because it believes it represents good value for money and has attractive long-term dynamics.

Minimum investment in the fund is £2,000. Initial commission is 3 per cent, with 0.5 per cent trail.

Head of distribution David Sachon says: “Markets may be unsettled for a while yet but we are convinced that in three year&#39s time this will look in hindsight to have been a good time to have launched this fund.”

Chase de Vere investment manager Anna Bowes says: “It is refreshing to see a company launching a fund like this when the market is bad but we will wait and see how it does before we start recommending it.”

Recommended

Active too prevalent in the retail market Sandler warns

Consumers are over reliant on actively managed funds says Ron Sandler and should look to cheaper tracker funds to deliver better returns.His report concludes there is no correlation between the higher charges from active funds and better performance. Compared with institutional trends, review head Sandler says the prevalence of active management of retail funds is […]

Momentum – missed opportunity for workplace advice

Corporate IFA Momentum has warned that despite simplification recommended by the Sandler Review team it is employers that hold the key to increased levels of saving. It says that Sandler has missed an opportunity to help close the savings gap by not considering workplace advice. Momentum financial services development director David James says: “Providing such […]

Scottish women-only IFA doubles business

Scottish women-only IFA Independent Women achieved a 50 per cent increase in turnover in the past year.Turnover in the year to May 31, 2002, increased to £850,000 from around £400,000. The Edinburgh-based IFA hopes this growth will continue and that next year&#39s turnover will break the £1m mark.Business development manager Eve Callaghan attributes the firm&#39s […]

Firms get tailored help in Raising Standards

The Pensions Protection Investments Accreditation Board is offering a service to help firms seeking accreditation under the Raising Standards initiative.The new set-up stage in the accreditation process builds on experience gained during the first wave of accreditations in the scheme&#39s first year of operation. Brands will get help in preparing efficiently for accreditation and receive […]

What exactly is product innovation?

By Fiona Tait, Pensions Specialist Ros Altmann reportedly hoped for more product innovation following pension freedom¹ and, according to one poll, 66 per cent of advisers also believe that providers should be doing more². This article considers whether there is a real client need for new products, or whether we should be focusing our attention on efficient delivery […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment