Equity funds have worst quarter since Gulf War

No equity unit trust or Oeic in the Lipper universe managed to produce a positive return during the third quarter of the year. The results represent the worst quarter of performance since 1990 when markets were temporarily set back by the Gulf crisis, according to Lipper. During the most recent quarter on a total return, bid to bid basis, the average UK unit trust and Oeic fell by 15.38%. During the third quarter of 1990, the average unit trust fell by 18.99%. The worst-affected sector in the three months to the end of September 2001 was Technology and Telecommunications, in which fun...