Tigue ups gearing

The Foreign & Colonial Investment Trust is positioning itself for an equity market recovery in the second half of the year. Manager Jeremy Tigue is looking to take a more focused and aggressive stance and continue his policy of upping the gearing on the portfolio. The trust's net gearing position was 8% as of 1 August, against a Global Growth sector weighted average of just 2%. Speaking after the release of the trust's interim results for the six months to 30 June, Tigue said an increase in gearing has boosted returns in the second quarter of 2003. 'The first 10 weeks of the year were...