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Most high-flying funds fizzle out

Nearly all the 50 top-performing funds between 1992 and 1997 had slipped down the rankings by the end of last year, according to Close Wealth Management.

Only three of the funds remained in the top 50 between 1997 and 2002. Of the remainder, the average ranking plummeted to 524th.

The biggest faller was Old Mutual&#39s European Inc fund, which plunged from first position in 1992-97 to 1,174th. Scottish Widows Investment Partnership&#39s UK smaller companies A fund slid from sixth to 1,130th.

Of the 47 funds which dropped out of the top 50, two slipped to rankings between 50th and 100th. Ten were ranked between 101st and 300th while 10 fell to between 301st and 500th.

Eleven funds dropped to between 501st and 700th while six slipped to between 701st and 900th. Eight fell to 900th position or below.

Chief executive Martin Smith says the findings show the importance of regularly monitoring investments. He says: “As many as two out of three investors have never reviewed their Isas and Peps, which is reflected by the fact that less than 1 per cent are transferred each year.

“Investors need to focus on the performance of their funds and, if they are not meeting expectations, they should be prepared to transfer them.”


Top end is leading the market down

The average UK house price rose by only 0.1 per cent in January to £135,600 from £134,925, which is a sign of the market stagnating, according to analyst Hometrack. The company says this compares with the house price inflation peak of 2 per cent in May last year. In London, prices dropped by 0.1 per […]

NU sales down by 7% in &#39challenging conditions&#39

Norwich Union is warning that tough market conditions are set to continue after its new business figures fell slightly in 2002. Total UK sales of £7.4bn last year were down by around 7 per cent from £8bn in 2001. The trend was reflected internationally, with parent Aviva posting worldwide new long-term sales of £14.6bn, down […]

Portman moves into equity release with lifetime loan

Portman Building Society is entering the equity-release market by offering a lifetime mortgage. Although initially available only through its branches and call centre, the society says it is considering extending the product to IFAs. It says branch staff have been trained on the product and the market, which can be complex, so it is focusing […]

ABI describes armed forces life cover story as misleading and inaccurate

Existing life cover held by members of the armed forces will not be affected by call up or deployment to the Gulf, confirmed the Association of British Insurers. The ABI has hit out in response to a weekend report in the Times newspaper which it described as misleading and inaccurate.

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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