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UK unit trusts down over 2000

UK unit trusts dropped on average by 3.29 per cent in 2000, according to fund information company Lipper.

This was the first full year decline in mutual funds since 1994. UK focussed funds did not do as badly as many other regions due to smaller weightings in technology stocks.

The UK equity income sector, the only UK equity sector to end the year up, rose by 2.27 per cent.

Lipper marketing director Steve Lipper says: “Looking ahead, an uncertain economic outlook in North America and Japan, may make for another difficult year although continental Europe appears in better economic shape.

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