MoneyGuru is to launch its first unit trust, the Elite MoneyGuru Income with Growth Trust, in early ...
MoneyGuru is to launch its first unit trust, the Elite MoneyGuru Income with Growth Trust, in early February.
The fund will be managed by Ian Lancaster, the group's investment director. It will target a consistently high level of income by investing in a range of high-yielding, predominantly small and mid-cap stocks which are capable of generating sustainable earnings and capital growth.
A hypothetical portfolio has been run by Lancaster since November 2000, with the performance displayed upon the MoneyGuru website. At launch, the portfolio will be based on this model.
The trust will typically hold around 20 stocks, with extensive fundamental and credit analysis by MoneyGuru's analyst team supporting Lancaster's bottom-up approach.
Individual stock exposure will be limited to no more than two days worth of the stock's average trading volume over the past 12 months.
Lancaster joined MoneyGuru in 1999 from General Accident, where he specialised as a UK small-cap fund manager.
Minimum investment is £5,000, although a monthly savings option is available. The initial charge will be 5.25%, with a 1.5% annual management charge.
Intermediary commission will be 3% initial and 0.5% renewal.
For further details, contact Ken Scott on 020 7332 2040.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till