Closed fund heads Cautious Managed sector

Although Framlington's fettered fund of funds topped its peer group over three years, it was liquidated last month in favour of giving investors access to the whole market

Although Framlington Managed Distribution fund was closed and liquidated at the end of September, it was the cumulative best performer in the Cautious Managed sector over three years to the end of August. Over the period, the fettered fund of funds, run by Richard Peirson, returned 46.26% on a bid to bid basis against the sector mean of 32.92%, according to Standard ' Poor's. The product was also top of the sector in the final discrete 12-month period under examination, September 2004 to August 2005, when it grew by 21.35% while the average sector fund returned 15.25%. In the preceding t...