Co-operative Insurance Society (CIS) is launching a European fund this week - its first unit trust l...
Co-operative Insurance Society (CIS) is launching a European fund this week - its first unit trust launch for 10 years, writes Leo Bland.
The fund will be run by Mark Williams who previously ran the CIS Environ unit trust, the group's ethical fund. Environ has been taken over by Sean Parker. The fund was launched in 1990 and was the last unit trust launched by CIS.
The Europe portfolio will be a mainstream product and invest solely in Continental equities. It will be biased towards large caps, although there will be some diversification into small and mid-cap stocks. The Europe fund launch will take CIS's unit trust range to four, including CIS UK Growth, run by Joe Walters, and CIS UK Income, managed by Andrew Moffat.
CIS Environ is £164.5m in size and ranked 15 out of 25 funds in the Global Specialist sector on growth of 45.7%. The fund is 23 out of 29 over one year on growth of 7.4%. CIS UK Growth is £1.82bn in size and is 58 out of 223 in the UK All Companies sector on growth of 60.2% over three years.
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