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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.”


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