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TMT and Euro funds top the league over 15 years

TMT and European funds have been the best perfor-mers over the last 15

years despite being among this year&#39s worst performers.

Figures published by Autif this week reveal that £1,000 invested in

the average TMT fund 15 years ago would now be worth £7,498 while

£1,000 inv-ested 12 months ago would now be worth £450.

A £1,000 sum invested in the average European fund 15 years ago would

now be worth £7,107.

However, the Autif figures also show that over the 15-year period, only

four sectors averaged more than the FTSE All-Share index, which would have

turned £1,000 into £5,345.

All but the TMT, Europe, North America and North American smaller

companies sectors averaged less than the index, building the case for

tracker funds.

The figures obliterate the case for investing in building societies,

however, with only Japanese funds averaging lower performance than savings

account ret-urns. The average Japanese fund returned just 66.5 per cent

over 15 years while the average UK savings instant access account returned

103.2 per cent.

Hargreaves Lansdown investment manager Ben Yearsley concedes that most

fund managers do not outperform the index over a longer period but he still

believes that active funds are the way to achieve the best returns.

He says: “The best fund managers will outperform. If you look at Anthony

Bol-ton&#39s Fidelity special situations fund, that is more than double the

FTSE All-Share over 15 years.”


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