Negative returns posted by majority of sectors

Almost 25 of the 31 IMA sectors have produced negative returns in the first 11 months of 2002, with UK-based funds showing their worst 11-month period since 1990. Analysis from Lipper, the fund performance statistic provider, shows that from 31 December 2001 to 29 November 2002, the average UK-based unit trust and Oeic was down 12.22%. This compares to 1990, when there was an 11-month period in which the average fund fell by 17.26%. In that period, just 262, or 14% of UK unit trusts and Oeics out of a total of 1,804 managed positive performance. No single equity-invested IMA sector de...