Portfolio Fund Management is to launch a technology fund of funds in the coming weeks, writes Leo Bl...
Portfolio Fund Management is to launch a technology fund of funds in the coming weeks, writes Leo Bland.
The fund will be run for Portfolio by investment boutique IMS. The key individuals at IMS responsible for the fund will be research director Paul Kim and managing director Richard Timberlake.
The list of fund managers for the fund has yet to be finalised although Henderson Global Technology and Scottish Equitable Technology will be among the core holdings. The launch is subject to regulatory approval and the launch date is likely to be at the end of the month or into April. IMS was set up last year by Timberlake who was previously a director of Portfolio.
The fund of funds will have holdings in some 12 funds, with between 50% to 60% in four or five core portfolios such as Henderson Global Technology and Scottish Equitable Technology. The remainder of the fund will be in satellite holdings in funds concentrating on areas such as the internet or healthcare.
The move comes amid a spate of technology fund launches this year from groups including Jupiter, Gartmore and Henry Cooke Investment Funds. The product is being designed to help IFAs get clients exposure to the technology sector without the need to pick a particular fund.
Henderson Global Technology has an frAAA rating and is ranked first out of 25 funds in the Global Specialist sector over three years on growth of 407.9%. The fund is second out of 31 funds over one year on growth of 195.2% and is seventh out of 35 over three months on growth of 49.1%.
Scottish Equitable Technology has an frAA rating and the fund is third out of 25 in the Global Specialist sector over three years on growth of 336.4%. The fund is sixth out of 31 over one year on growth of 164.2% and is 10 out of 35 over three months on growth of 42.7%.
IMS has just launched a global fund of funds product, as first reported in Investment Week in February. The portfolio, with a minimum investment of £50,000 will look to hold some 16 on shore and offshore funds initially.
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