Plan Invest joint managing director Michael Owen says
“It has hardly been an auspicious start to the new millennium. The concept of making money has proved difficult globally and investors have had to learn that prices can indeed go down as well as up.
“If they are technology investors, they will pray that prices can go up next year. We have seen a return to more fundamental principles of stock selection and a reminder to ignore the advertising and marketing hype and lift the bonnet on a number of funds to see their style of investment and risk profile.
“The key words or phra ses uttered in 2000 have been “volatility”, “style investment”, “hedge funds”, “stock selection is vital” and “fund sup ermarkets” have emerged, ready to be big players of tomorrow.
“The demise of such well known stocks as BT and M&S have hopefully given the public a reason to believe that collective investment schemes may after all be better than ones own judgement.
“Fund managers have jumped upon the theme bandwagon as the key concept of 2000 but advisers tend to be wary of fund managers with new launches and marketing budgets to fill.
“Finally, it has been the year of the moving fund manager, with many star names moving, akin to the football industry and prompting the companies' concerned to say the fund was always run on a team basis anyway.”