Framlington has overhauled one of its offshore portfolios to mirror its New Leaders UK unit trust. Th...
Neil Birrell, who runs New Leaders, took over the offshore Global Growth fund at the start of June and will run it in line with the New Leaders style.
Birrell identifies new 'business leaders' in the global technology, telecoms, healthcare, financial, internet, leisure and media sectors. Holdings include Disney, Sony, Vodaphone, Pfizer, Goldman Sachs and Verisign.
The fund is part of the Luxembourg-based Framlington International Portfolios Sicav. It has a 5% initial fee, plus an 1.5% annual management charge. The fund is available in three currencies, with a minimum investment of $5,000, e5,000 or £3,000.
The Global Growth fund was originally launched as a top-down, sector-based fund. It drew little investment and still holds only around $5m. By narrowing the fund range to the seven specified areas and using Framlington's specialist teams, the company hopes to breathe some life back into it.
New Leader has overtaken its partner, having drawn around $25m. Framlington is aiming them at different markets - Global Growth is being marketed primarily to private banks in Europe while New Leaders is aimed at investors in the UK.
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