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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.”

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