By MARCEL PORCHERON 31/08/2006
This fund is extremely hard to benchmark because of its composition. It has a UK tech bias, some overseas exposure, but invests not only in early stage and proven technology but also companies in other industries- which are set to benefit. We have concerns regarding performance and the ongoing viability of the fund at £34m. Artemis have recently recruited Andy Gray to work with Whitelaw on tech, but we would not want to see new money invested in the fund for now. Investors looking for specialist (UK) exposure could consider the Framlington Innovative Growth fund, although this adopts a pragmatic interpretation of innovation, which can lead to diverse sector exposure.
Downgraded to 2 Stars.