Framlington is putting a discount on its Nasdaq unit trust, run by Stephen Kelly, until 31 December,...
Framlington is putting a discount on its Nasdaq unit trust, run by Stephen Kelly, until 31 December, writes James Thorneley. The fund was recently converted from US small companies to a Nasdaq only brief.
The 1% discount on the 5% initial charge applies to Isa, unit trust and Pep transfer investments. Intermediaries can receive 3% commission and, for Pep transfers and lump sum Isa investments only, 0.5% renewal. On 7 July, unitholders voted the American Smaller Companies fund into the Framlington Nasdaq fund. This change marked a reconstruction of the investment portfolio to match the new objective of investing primarily in companies listed on the Nasdaq stock market.
Some 27.8% of the portfolio is now invested in technology companies, followed by 21.4% in industrials and 17.2% in healthcare stocks. Other weightings include 15.9% in consumer equities, 12.1% in telecoms, 3.1% in financials and 2.5% in materials.
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