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Research shows the importance of fund analysis

Credit Suisse is urging IFAs to be aware of the importance of picking investments as fund performance figures show how difficult finding a winner can be.

Based on Lipper figures to the end of March, Credit Suisse says only one in 10 onshore unit trusts has had above-average performance for three consecutive years.

The research also shows that almost two-thirds of unit trusts have had a change of manager in the past three years.

Only 2 per cent of European and North American unit trusts are top-quartile in all the past three years. Not one Japanese or Asian fund is top-quartile in all three years and only 2 per cent of UK income funds are top-quartile in all three years.

In January 2001, there were 328 UK all companies funds and more than 200 were lagging behind the FTSE All-Share index last year.

Credit Suisse offers intermediaries a multi-manager service which pools fund management talent for a portfolio that aims to deliver consistent returns.

Joint head of multi-manager services Gary Potter says: “As the performance figures show, finding the right combination of skills requires intensive research. Without the benefit of rigorous fund analysis, the odds are not stacked in favour of the average investor or even the intermediary.”


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