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Biotech funds lead the way in the second quarter

Biotechnology funds were the best performers in the second quarter according to findings from the most recent Lipper UK Unit Trust/ Oeic survey.

At the other end of the spectrum, the weakest returns were, not surprisingly, in technology funds and smaller companies funds.

The two strongest funds were Framlington Health, returning 30 per cent and City Financial BioTech returning 22 per cent. Lipper sources conclude that the enthusiasm surrounding the mapping of the Human Genome was a major factor that buoyed these funds.

Smaller companies suffered the most because of their reliance on TMT stocks which experienced a market correction over the last quarter. Japanese smaller companies were down 8.62 per cent, UK smaller companies down 8.07 per cent, and European smaller companies dropped 6.16 per cent, the three worst sectors in the survey.

Lipper global marketing director Steve Lipper says: “The second quarter of 2000 showed a reversal in fortune for the smaller companies sectors. The second quarter&#39s results underscore the importance of investing regularly in volatile sectors rather than in one lump sum.”


B&B links up with Freeserve

Bradford & Bingley has joined forces with Internet portal Freeserve to offer mortgages and a property channel for customers to buy online. Launched this autumn, the e-mortgage broker Charcolonline will offer mortgages from more than 45 different lenders to Freeserve’s 3.4 million members. Members will also be able to access a database of houses from […]

Bank of England chief economist to head OFT

Bank of England chief economist John Vickers is to be made the next director general of the Office of Fair Trading. He will succeed John Bridgeman who completes his term at the end of September. Bridgeman has held the position, at the as the consumer watchdog, for five years. Vickers&#39 CV is an impressive one. […]

Woolwich – Open Plan 3.55 Per Cent Discount For 2 Years

Tuesday, 7th November 2000.Type: Discounted-rate flexible mortgage.Discounted term: Two years.Discount: 3.55 per cent.Payable rate: 4.2 per cent.Minimum loan: £1,000.Maximum loan: Up to 95 per cent of valuation subject to no maximum.Income multiples: 3.25 times principal income plus second or 2.5 times joint.Features: Underpayments, overpayments, payment holidays, lump sum withdrawals, interest calculated daily.Arrangement fee: £195.Redemption fee: […]

Michael Folger

More than a passing resemblance to Paul Newman, don&#39t you think?” asks FSApress officer Jackie Blyth as she hands me a photo of director ofinvestment business Michael Folger, a piece of information which is dulyfiled in case he needs to be charmed.But it turns out that such journalistic tricks are not needed. He is theone […]


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