Guinness Flight to Offer New Index Mutual Fund

Guinness Flight Investment Management Ltd. is offering a new index mutual fund “designed to track the U.S. information economy of the 21st century,” according to the company.

The fund, to be launched Dec. 15, is named the Wired Index Fund. The index, developed by Wired magazine, includes 40 stocks, and their percentage of the index will be determined by their market capitalization, said James Atkinson, head of Guinness’ Pasadena-based U.S. operations.

The top five stocks in the index as of Nov. 23 were the Internet company America Online Inc., accounting for 7.4%; Dell Computer Corp., 6.3%; the mobile phone company Nokia Corp., 5.9%; the computer-memory device company EMC Corp., 5.2%; and the telecommunications equipment company Lucent Technologies Inc., 4.5%. The index also includes Reuters Group, a financial information company; entertainment giant Walt Disney Co.; and retailer Wal-Mart Stores Inc.

The fund will also be available at “virtually all fund supermarkets” run by discount brokerage firms, Atkinson said. The minimum investment is $2,500.

For information, contact Guinness at (800) 915-6565 or visit https://www.gffunds.com on the Internet.