F&C launches 'best ideas' fund

F&C has launched the UK Opportunities fund, a focus fund investing in a concentrated portfolio of 'best ideas'. Managed by Phil Doel, the fund will hold 25 equally weighted stocks of 4%; it has no style or size bias and is unconstrained by its benchmark. Doel said: "People expect market returns to be a lot lower today than they were in the 80s and 90s. As a result successful stock picking will be the major contributor to outperformance. In a lower return world you need more than just beta, you need strong alpha returns for beating the index and this fund does just that." The fund targets ...