Britannic Asset Management has opened its UK Focus fund for investment. Managed by David Clark, t...
Britannic Asset Management has opened its UK Focus fund for investment.
Managed by David Clark, the fund was launched in July 2002 but until recently has not been available to the public as Britannic wanted to build up a performance track record before marketing it.
Francis Ghiloni, sales and marketing director at Britannic, said although the fund is open for investment, it will not be actively marketed for several months as the group is currently concentrating on selling its fixed interest range.
The fund will hold between 20 and 30 stocks and aims to significantly outperform the UK All Companies sector median by 3%.
Although the team has a high degree of flexibility, the fund does have guidelines as to its position in the stocks against their weighting in the FTSE All-Share index.
Rather than being required to stick within certain index risk constraints, there must be a minimum 2% mismatch against the index for the fund to take a position.
'We don't take neutral positions,' Clark said. 'We are either 2% or more over or 2% or more under.'
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