Manek to close underperforming Growth fund after 20 years

Manek (pictured), a former pharmacist, was twice-winner of the Sunday Times Fantasy Fund Manager competition in 1994 and 1995 before launching the Growth fund in 1997. It aimed to provide long-term growth by investing in UK and global equities. It originally sat in the IA UK All Companies sector before moving to the IA Specialist sector. Assets flew into the fund initially, reaching a peak of £300m in 2000, but investors were left disappointed when performance was badly hit by a large exposure to technology stocks. Current top ten holdings include Shire, Man Group and Hikma Pharmac...