Old Mutual Asset Managers has been testing the idea of a UK Mid 250 fund at a time when many groups ...
Old Mutual Asset Managers has been testing the idea of a UK Mid 250 fund at a time when many groups have been bringing products to market investing in that area of the market.
The news follows the announcement that New Star has launched a mid-cap Aggressive Growth fund run by Tim Steer, entering a peer group of funds that includes Dresdner's UK Mid 250 and the BWD UK Mid Cap Growth.
Schroders has also recognised the potential of the area and is aggressively pushing Andy Brough's UK Mid 250 portfolio in its current marketing drive.
The fund from Old Mutual Asset Managers will be managed by Ashton Bradbury and Richard Moore, the new manager of the Old Mutual UK Growth fund.
Moore, who joined Old Mutual from Singer & Friedlander earlier this year, will have responsibility for stocks at the top end of the FTSE Mid 250 Index, while Bradbury, best known for his expertise in small-cap stocks, will look after stocks in the bottom end of the target universe.
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