JO Hambro Capital Management is concentrating on home waters for the UK growth fund, the last of its quartet of new open-ended investment companies (Oeics).
Registered in Dublin and managed from London, the Oeic will aim to outperform the FTSE all share index over the medium term of three to five years. Over a three-year period, from October 20 1998 to October 18 2001, the FTSE all share index went from 2,417.1 points to 2,450.48 points.
UK growth will build up a portfolio of between 50 and 60 stocks, all listed on the FTSE all share index, concentrating on companies that show the potential for good growth and which have strong management and a clearly defined strategy.
Companies that it will invest in include washroom services company PHS, water company South Staffordshire Group and media companies such as Carlton and Granada.
Looking more closely at the performance of some of the companies listed above, from October 18, 2000 to October 18, 2001, Granada went from £1.82 a share to £1.28, Carlton went from £5.40 a share to £1.75 and South Staffordshire Group went from £3.75 a share to £5.20.
Aimed at experienced investors looking for growth with a medium level of risk, the fund will be managed by Mark Costar, who joined the company in August 2001. Before this he worked for Clerical Medical Investment Group where he managed the UK growth fund from July 1996 to May 2001.