Funds find ways to limit their losses

In the three years to the end of January 2003, just one fund in the Far East ex-Japan sector has posted positive returns. Only Angus Tulloch's First State Asia Pacific fund was in positive territory, with a three-year return of 0.37%, bid to bid, compared with a sector average fall of 32.18%. The biggest fall in the sector came in the year ending 31 January 2003, with an average drop of 22.93%. In the 12-month periods to the end of January 2001 and 2002, more modest falls of 6.7% and 5.8% respectively were seen. Richard Scott, manager of the Exeter Pacific Growth fund, outperformed ...