Europe equities buoyant

By Robert Maharajh Offshore funds investing in Europe ex-UK are showing higher than average returns at the cost of higher than average volatility. The best total return over the three-year period examined was achieved by the Newton UGF Continental Europe fund. This has returned 115.19% over three years to the end of July 1999, which breaks down as -0.9% over one year, 52.54% from August 1997 to July 1998 and 42.35% from August 1996 through July 1997 The portfolio is managed by Keiran Gallagher, who characterises his investment stance as 'growth at a reasonable price'. The fund's largest o...