Nick Evans, manager of the Framlington NetNet fund, is to become lead manager of the group's Nasdaq ...
Nick Evans, manager of the Framlington NetNet fund, is to become lead manager of the group's Nasdaq unit trust in August this year.
Evans has been co-manager of the fund with Stephen Kelly, manager of the Framlington American Growth fund, since September last year. Neil Birrell, chief investment officer at Framlington, said the Nasdaq portfolio would sit slightly better with Evans as lead manager, given the fact he invests more in technology.
However, he said Kelly will continue to have a large influence on the fund, which will continue to be run using a team approach.
The portfolio relies on input not only from Evans and Kelly but from the group's healthcare team headed up by Antony Milford. According to Birrell this is because global healthcare makes up a significant proportion of the index.
While the fund is ranked 11 and 12 out of 12 funds in the US Smaller Companies sector over one and three years respectively to 31 March 2003, it is ranked first in the sector over three months.
Over one-year, on an offer to bid basis, the fund has fallen 41.8%, compared to the sector which fell 36.9%, however, over three months, on a bid-to-bid basis, it is up 9.1%, compared to the sector which was down 1.0%.
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