Edinburgh Portfolio (EP) is considering closing its Technology Portfolio fund of funds now that asse...
Edinburgh Portfolio (EP) is considering closing its Technology Portfolio fund of funds now that assets are down to less than £1m.
The vehicle contains some £800,000 and Mark Harris, head of investment management at EP, said the group is looking at the viability of the product.
EP closed its Managed Recovery fund last year after it decided the £700,000 portfolio was too small.
The Technology fund was launched in March 2000 and had a performance return of -74.08% offer to bid, net income reinvested, up to 1 November 2002.
EP has also repositioned its mainstream equity portfolios towards a growth bias in readiness for market recovery in 2003. In addition, it has cut all gilt exposure and moved the money into corporate bonds, Harris said. He added: '2003 is likely to be a much better environment for equities. Investors should be buying not selling equities at this point in the cycle.'
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