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Close Special Situations tops performance chart

The Close Special Situations fund was the best performing vehicle for the first two quarters of the year, according to research carried out by Thames River.

The British small-cap fund returned 42.9% in the first three months of the year, followed by another 51.2% in the second quarter. Its peer group, UK Smaller Companies, was also the best performing sector, with an average fund rise of 22.8%.
Other good performers were also in high beta sectors such as Global Emerging Markets and £ High Yield.

The Thames River Multi-Capital Quarterly Survey also noted the change of performance in the fixed interest sectors. The Global Bond sector was the best performing group in the fourth quarter of 2008, but by the second quarter of this year it posted the largest losses (1.5%).

The only other sector to post a negative return was UK Gilts, another popular haven for investors last year.

The worst fund of the quarter was the Baillie Gifford Overseas Bond fund which lost 12.54%. The report says it “was a victim of the back–up in government bond yields and the strength of sterling.”

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