struggling investment house sees four of its portfolios among the worst-performing Funds
Aberdeen has four portfolios represented in the bottom 10 performing unit trusts and investment trusts over the three years to 1 February, according to figures from Standard & Poor's.
The worst performing fund of the entire unit trust universe over three years was Aberdeen Fund of Investment Trusts, which would have turned a £1,000 investment, offer to bid net income reinvested, into £421.11.
Aberdeen European Technology came third from last in the unit trust arena, turning £1,000 into £491.16. This compares with the returns of the top performing fund over that time period, Artemis UK Smaller Companies, which would have returned £3,270.90.
In the investment trust universe, Aberdeen had the second worst performer, behind BFS Investments' Geared Income. Aberdeen High Income saw a £1,000 investment over the three years to 1 February turn into £155.39. Aberdeen Preferred Income, also in the bottom 10, would have fallen to £225.17. However, the trust fared better in the short term, ranking as the third-best performer over one month to 1 February, turning £1,000 into £1,270.27.
The average three-year return for the investment trust sector is £1,302.43, while over one month it is £1,003.27.
According to the data provider, the top performing investment trust over three years was the venture and development capital trust Gresham House, turning £1,000 into £18,107.99. In fact, there was no time period Standard & Poor's looked at to 1 February 2002 that would have seen Gresham House lose investors money.
Over one month it was up £1,080, six months it was up £1,119, over one year it returned some £1,297 but over the longer term its numbers are staggering. The trust has turned £1,000, net income reinvested, into £30,187 over five years and £38,237 over 10 years.
The sectors that produced the best unit trust performers were varied, although there was a UK bias, with two funds from UK smaller companies represented and three UK All Companies portfolios.
The specialist trusts fared better in the investment trust universe, with the top 10 including portfolios invested in venture capital, European emerging markets, biotechnology, country specialist Far East and Far East ex-Japan.
Within the unit trust universe, the best-performing sector over three years was Latin America, with just nine funds, the average of which returned £1,625.
This was followed, perhaps unsurprisingly, by the Index Bear sector, with just one fund, which turned an investment of £1,000, offer to bid net income reinvested, into £1,464. The worst performer over that time period was the technology and telecoms sector, turning £1,000 into just over £848.
The top-performing sector for investment trusts over three years was the specialist sector, Biotech and life sciences, returning more than £2,752 on a mid-to-mid basis, net income reinvested. This was closely followed by returns of £2,662 achieved by trusts invested in the European Emerging markets sector.
On the whole, investment trusts sector returns were much higher than the comparable unit trust sector. For example, five sectors in the investment trust universe would have doubled the original £1,000 investment, while the highest return of any sector in the unit trust universe was £1,625.
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