Funds under management at Johnson Fry grew 51 per cent in the first half of the year, boosted by a unit trust fund run by Mark Slater, the 27-year- old son of former financier Jim Slater. The Johnson Fry Slater Growth Fund is attracting pounds 2m a week in new money and has mushroomed in 15 months from pounds 500,000 to pounds 88m. Small investors continue to pile into the fund, despite the fact that its exposure to small companies means it has lost pole position in the growth sector. It came 11th out of 160 growth funds in the year to July, having been number one a month earlier. Fund management profits at Johnson Fry grew from pounds 993,000 to pounds 1.76m but group profits slumped to pounds 800,000 from pounds 1.5m.