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Two European funds help break the dominance of UK tracker funds in the Standard & Poor&#39s Micropal list of top unit trusts.

The Newton European fund moves into seventh for its performance in the past 12 months. It has returned 37.01 per cent over a year. At number eight is the Fidelity Europe (ex UK) unit trust, which has returned 36.65 per cent over a year. The Newton fund was launched in June 1987 and has grown to £56.5m. Managed by Keiran Gallagher, it has a 21.4 per cent weighting in France, 16.5 per cent in Germany, 14.3 per cent in Holland and 11.4 per cent in Switzerland.

The £309m Fidelity unit trust was launched in May 1996 and is run James Rutherford.

New at number five is the Schroder US smaller companies unit trust.


Chapman takes helm at Permanent

Income-protection specialist Permanent Insurance is promoting sales and marketing manager Andrew Chapman to managing director. Chapman, 39, formally takes over from Patrick Harris-Deans on January 1. Harris-Deans will continue in his role as managing director of Medical Sickness.

Don&#39t tarnish ISA with brush of high commission

Fears for the future scope of the Individual Savings Account are throwing up curious reactions. Now, it seems that charges and commission are taking centre stage. Should they? Last week, Credit Suisse Asset Management Funds said it would offer up to 5 per cent initial commission on lump-sum Peps. NPI said it planned a no-load […]

State of the markets: global growth

In conversation with journalist Alexis Xydias, Artemis Global Growth Fund manager Peter Saacke discusses the state of global markets and how he is positioning his fund. Peter gives his views on the growth potential of US, Europe and emerging markets, each of which is on a different stage of the road to recovery. And with a […]


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