netISA
transfer to Legal & General
trackerfunds.com launched its first fund, CF netPEP
Tracker Fund, in April 1997. This fund
successfully tracked the FTSE 100 Index.
However, by December 2000, it became clear that the high
turnover of companies comprising the 100 Index, and the
significant changes to its risk and volatility
characteristics, were beginning to hamper the performance of
this relatively narrow index. For example,
Vodaphone accounted for approximately 10%, and the next five
largest UK companies by capitalisation accounted for a
further 26% of the index. This meant that almost
40% of the fund was concentrated in just six
companies. Such a high concentration in a
relatively small number of companies meant that the fund was
susceptible to high levels of volatility.
We
therefore decided to terminate the FTSE 100 fund, and to
offer investors the opportunity to switch their investments
free of charge into a Unit Trust managed by Legal &
General Unit Trust Managers (L&G),
which tracks the
much broader FTSE All-Share Index - the L&G UK Index
Trust.
This
transfer from the CF netPEP Tracker Fund was successfully
implemented in January 2001.
For
further information about trackerfunds.com click
here.
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