Unit trusts and Oeics hit by downturn

July saw unit trusts and Oeics struggling to produce real returns in falling markets with only 7% of all funds managing to do so. Bid-to-bid figures from Lipper found that 93% of all funds across all sectors delivered negative returns during the month. The only sectors to generate real returns were the Index Bear sector, comprising just one US fund run by Govett, which returned 3.1% while UK Gilts managed 0.23% and money market posted 0.18%. No equity sector produced a positive return for the month with eight of them falling by more than 10%. UK funds fared better than many recording ...