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Signs of life as funds bounce back

Unit trust and Oeics showed signs of recovery in the second quarter, with

71 per cent of funds producing positive returns.

The figures published in Lipper&#39s latest quarterly fund survey show the

average fund return has risen by 2.52 per cent over the three months to

July, making it the best quarter since the first quarter of last year.

However, bond funds saw their worst three months since 1999, falling by

1.36 per cent.

The North American smaller companies sector was the best performer, up by

16.45 per cent while European smaller companies produced the worst average

return of -4.58 per cent.

For the first half of this year, every Autif sector averaged a negative

return while the return across all sectors was negative for the first half

of 2001 and the last half of 2000. Lipper says the last time this happened

was seven years ago.

Global marketing director Steve Lipper says: “The markets have been

following a pattern of one step forward and two steps back for the last 18

months. If this trend continues, we have not yet seen the low point for

this market cycle.”

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