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Perpetual Fund announces 19 per cent growth over last quarter

Perpetual&#39s UK Growth Fund announces 18 per cent growth since March compared with the sector average of a loss of 1.9 per cent over the same period.

The company claims the fund is rated first out of 322 fund in that sector over the last quarter.

The fund had suffered late in 1999 due to the decision by manager Stephen Whittaker not to invest heavily in TMT stocks like the rest of the sector. But when the market corrected itself in March and many tech stocks plunged in value, Perpetual&#39s fund wasn&#39t hurt like some of its competitors.

Whittaker says: “Interest rates are peaking, there has been a revival in real economy stocks that actually make profits and pay dividends. It may be old fashioned, but it&#39s definitely what investors look for in the long run.”


Marching for mutuality

Around 200 Standard Life employees marched through the streets ofEdinburgh in support of the company&#39s mutual status last week.They presented a petition containing 6,000 signatures to Scottish NationalParty MSP Margo MacDonald after she called for the matter to be debated inthe Scottish Parliament. The marchers say the signatures had been gatheredin just four days.The SNP […]

Net firm in warning on electronic voting

Hopes that electronic voting will pave the way for major improvements inUK corporate governance have been dashed in a report sponsored byshareholder voting service E-vote.While electronic voting is due to become legal in the UK later this year,E-vote warns that millions of these votes could be excluded under arcane UKcompany law regulations.Under current law, proxy […]

Finsbury Trust grows by more than half

Investment trust Finsbury Trust has posted a 58 per cent increase in net assets in the year ending March 31. The fund, which operates mainly in the smaller quoted sector in the UK, gives investors an increase in dividend of 19 per cent to 5p from 3.2p The investment trust is owned by Apax Finsbury […]

Pru to float in New York

Standard Life says a new poll shows support for demutualisation has fallen from 32 per cent to only 18 per cent. The poll is the latest move by the life office to combat the campaign by carpetbaggers to force it to convert. The MORI poll was conducted nationwide with a random sample of 500 voting […]


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