The CF Quantock unit trust, managed by Bob Brown, is to be converted into an Oeic next month and be ...
The CF Quantock unit trust, managed by Bob Brown, is to be converted into an Oeic next month and be marketed by Matrix Securities.
The fund will be renamed Matrix Quantock Growth, although the fund administration will continue to be carried out by City Financial Unit Trust Managers. The Oeic conversion is subject to unitholder approval and is set to go through with the fund rebranding on 4 September. The unit holder meeting is to be held later this month.
Brown manages CF Quantock through investment firm R C Brown Investment Management. The charges on the fund will remain the same at 5.2% initial and 1.5% annual, while the fund offers IFA commission of 3% initial and 0.375% renewal.
Brown is currently running a 49 stock portfolio in the fund, which he divides equally between FTSE 100, mid cap and smaller cap stocks.
The fund does not invest in companies with a market cap of less than £70m for liquidity reasons.
Brown tends to buy stocks that he favours on the wholesale market, for example rights issues, new issues and placings of shares by brokers as he says this can give a kick to performance.
He says: "Buying stocks through the wholesale route seems to work. Buying into a company which is making a rights issue may get you exposure to depressed stocks."
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