Specialist and smaller company funds dominate the top 10 Standard & Poor's (S&P) unit trust and Oeic...
Specialist and smaller company funds dominate the top 10 Standard & Poor's (S&P) unit trust and Oeic rankings over three years, with CF Bio-Tech coming out top.
The £18.1m CF Bio-Tech portfolio does not feature S&P ratings or stars, yet its three-year returns place it higher than all other unit trusts or Oeics. In the three years to 1 November 2001 a £1,000 investment measured on an offer to bid basis with net income reinvested would have grown to £3,518.14.
Framlington Health is the other specialist fund to feature in the rankings, with the same £1,000 being worth £2,369.50 after three years.
Three Japanese funds make it into the top 10 S&P rankings, Invesco Perpetual Japanese Smaller Companies in fourth place, Gartmore PSF Japan Smaller Companies in seventh place and Dresdner RCM Japanese Special in tenth place.
In contrast to CF Bio-Tech's high performance, the lowest ranking UK unit trust out of 1,279 funds is the CF UK Performance fund. A £1,000 investment in the fund would have depreciated to £480.02 in the three years to 1 November 2001.
The other four funds making up the bottom five ranking portfolios are Aberdeen Euro Technology, LeggMason Investments UK Emerging Growth, Aberdeen Fund of Investment Trusts, and Invesco Perpetual US Growth.
The top performing investment trust continues to be Gresham House, which is in the venture & development capital sector. Over three years to 1 November 2001, a £1,000 investment would have grown to £14,000.16. The next trust in line, International Biotechnology, would have turned the £1,000 into £4,041.67 over the same period.
Alfred Sterling, the fund manager of Gresham House, put the trust's outperformance down to one of its technology holdings Transence. He bought it at 23p and it went up 100 times to £23.
Other trusts in the top 10 ranking investment trusts includes Finsbury Worldwide Pharmaceuticals, Eaglet, Invesco Japan Discovery and the Welsh Industrial investment trust.
UK High Income funds constitute the six bottom performing investment trusts. The two lowest performing investment trusts are Aberdeen portfolios, Preferred Income and High Income. A sum of £1,000 invested into the Aberdeen Preferred Income investment trust would be worth £200.54 after the three years to 1 November 2001.
Within the ethical sector the top performing fund is the Halifax Ethical Retail portfolio, which would have turned £1,000 into £1,406.79 over the three years to 1 November 2001. This compares to the worst performer in the sector, the Aegon UK Socially Responsible Equity portfolio, which would have decreased to £805.89 over the same period.
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