The CF Miton US Opportunities fund will open next Monday, and will typically hold 35-50 stocks in companies listed in the Russell 3000 index, which covers around 98% of the investable US market.
It aims to beat the S&P500 by 3-5% per annum and it will invest opportunistically, with no market cap limits.
The fund will offer investors access to the US stock market, which the firm describes as ‘a difficult area’ for UK investors, and is launched at a time when they believe the US economy is becoming increasingly healthy.
The fund will be managed by Nick Ford with assistance from Hugh Grieves. Ford recently joined Miton from Scottish Widows where he ran three US equity portfolios while Grieves was the manager of the Herald Worldwide Fund.
The pair previously worked together at Gartmore, where they managed a US smaller companies mandate.
Nick Ford, manager, CF Miton US Opportunities fund, said: “We believe that investors’ perceptions of the US are changing. America is in the early stages of a significant manufacturing renaissance, fuelled by improving cost competitiveness, most notably against formerly low cost countries in Asia. In addition, the emerging shale gas revolution is providing a plentiful supply of cheap natural gas, driving down energy costs and giving US based companies a further competitive advantage.”
