Norwich Union fund sends brokers packing.

Investment Adviser, January, 2006

A new fund from Norwich Union aims to free IFAs from having to make calls on market cycles.

The Norwich Union Growth & Value fund, outsourced to JPMorgan Asset Management, will be managed by Chris Complin and Michael Barakos of JPMorgan, and has been seeded with AGBP200m.

According to John Clougherty, director of collective investments at Norwich Union, the portfolio, which begins life containing 220 stocks, will be equally split between growth and value.

He said: "The style-based nature of the fund eliminates the need for brokers and advisers to time the cycle between growth and value. The movement of the market between these two states is very severe and there has been little success in calling it within a 12 month period."

JPM's...

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