Framlington to alter benchmark

Framlington is proposing to change the investment remit of its US Smaller Companies unit trust, writes James Thorneley. In a letter being sent to unitholders this week the group proposes to change the benchmark of the fund from the Russell 2000 to the Nasdaq. The fund will also be renamed Framlington Nasdaq unit trust. Craig Walton, marketing director at Framlington, said the group had been looking to alter the unit trust since last year as the Russell 2000 had become a less appropriate benchmark. He said: "Already two-thirds of the assets are invested in Nasdaq listed stocks." One rea...