Domiciled funds trump portfolios based in UK

Returns from US and Far Eastern funds domiciled in their local markets are often far superior to UK-based portfolios investing overseas, according to a survey in the January issue of Investment Strategies. To provide a meaningful comparison ' if not like-for-like alternative ' to UK-domiciled mutual funds, the survey looked at portfolios based in the Far East, Japan and US. Looking at the North America sector for example, only two out of 76 UK-domiciled funds in that region produced positive absolute returns over three years to 2 December 2002. These were Gordon Grender's GAM Nort...