Royal&SunAl announces discount on UK Prime fund

Royal & Sun Alliance's UK Prime fund, launched at the end of April and managed by Mike Felton, is on a special discount during its three-week launch period. The fund is to be actively managed with a portfolio typically consisting of 30 stocks. The investment style of the fund will rely on a stockpicking approach, selecting each stock on its own merits and not on its weighting in a particular index, and is described the company as a high-risk high-return fund. Commenting on the launch, Robert Talbut, head of investment management, said: "The key to the fund is that it will focus on ar...