I wanted to respond to Mark Dampier's letter (Money Marketing, October 21).
The Bates analysis that MM used to write the story aimed to point out that even during periods where stockmarkets were flat, there are funds in both the UK all companies and UK equity income sectors that have demonstrated the ability to deliver returns of at least the equivalent of 5 per cent a year.
The research took in four flat periods and it identified a number of funds which met the 5 per cent hurdle over all these periods.
At Bates, all our research is aimed at being constructive and educative. Like Hargreaves Lansdown, we take the view that the leading IFAs have a duty to drive this industry forward in a positive fashion. Also, like HL, we do not carry out work with a view to generating negative stories.
Head of investment strategy,
Bates Investment Services, Leeds