Objective: "To achieve maximum capital growth through investment principally in a portfolio of quote...
Objective: "To achieve maximum capital growth through investment principally in a portfolio of quoted UK securities."
Launched: 31 October 2000
Manager: Steve Thompson
Performance to 28 February 2001:
Three months: 0.1% (31 out of 300)
Largest five holdings (% of portfolio at1 February 2001):
GlaxoSmithKline (6.7%); BP Amoco (6.6%); Vodafone (6.1%); Royal Bank of Scotland (5.4%); Barclays (5.2%).
Charges: initial 5.25%; annual 1.5%
Rating: fr AAA
Minimum investment: £1,000 lump sum, £50 a month regular savings
Contact: 08457 405 405
Manager comment: "The fund maintained a top quartile position in its sector during February, during a month when the benchmark index fell sharply. Relative returns were aided by our underweight stance in both technology and telecoms. Defensive growth shares saw renewed interest, with relative returns aided by our overweight stance in pharmaceuticals."
We favour areas of the market where consolidation has improved the outlook for short-term earnings. Conversely, we remain cautious towards sectors where overcapacity is likely to lead to pressure on margins."
Broker comment: (Richard Craven, partner, HSC Partnership) "Even though it's a new launch in the UK, it has had an incredible track record as previously domiciled offshore. To have a fund which has produced any degree of dynamic return numbers in the UK over recent years when the markets been very flat, is unusual. In what's been a negative market, very few players have obtained consistent returns and Merrill Lynch has demonstrated confined value even in markets like these. They've switched their whole ethos from value oriented to growth and then back to value."
£116.8m of benefits received by customers
Spent 13 years at JPMAM
Headed by Ben Palmer and Edward Park
Consults on regulation and innovation in green finance
13 studies begun since April 2013