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Dampier bucks income trend and goes for growth

Hargreaves Lansdown head of research Mark Dampier has broken with the prevailing investment trend by selecting six growth funds in a list of his top fund choices.

Dampier, one of the UK&#39s most respected investment commentators, has chosen just two equity income funds, which are most IFAs&#39 preferred option at present, in his canon of 15 funds which he believes are best buys.

His growth choices include Cazenove&#39s UK growth & income fund, the recently launched UBS smaller companies fund, run by Frank Manduca, Framlington&#39s UK select opportunities fund, managed by Nigel Thomas, and Richard Buxton&#39s UK alpha plus fund at Schroders.

In the equity income sector, Dampier opts for the Neil Woodford-managed Invesco Perpetual income fund and Lion-trust&#39s first income fund. Credit Suisse&#39s best-selling income fund, however, does not rate a mention as Dampier believes that many equity income funds are too similar.

In the global emerging markets sector – which is one of HL&#39s tips over 10 years – Dampier picks First State&#39s Asia Pacific fund, run by Angus Tulloch. He also recommends the Schroder Toyko fund, DWS Investments&#39 American fund and Gartmore&#39s European select opportunities fund.

Merrill Lynch&#39s gold & general fund, which is one of the few funds to post absolute positive returns over the past one, three and five years, also makes Dampier&#39s list.

He says: “A lot of these funds are run by experienced people who have seen it all before and will not get caught in the headlights like some of their younger counterparts.”

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