Investors who put money into European equity funds last year should be asking questions of their fun...
Investors who put money into European equity funds last year should be asking questions of their fund managers if the returns outperformed similar products with a US focus according to new figures from the Office for National Statistics.
Its latest "International comparisons of company profitability" shows that European companies in 2001 produced better profits than US peers in similar sectors.
Norway produced the best company profits of all - largely because of rising oil prices - while the US saw its manufacturers go into their worst profitability slump for two decades.
UK focused funds should have produced returns somewhere in the middle between European and US equivalents.
Overall UK profitability remained high because of relatively good profits in the services sector counterbalancing the collapse in manufacturing profits.
The UK's manufacturing profitability fell to 13th place globally compared to leader Belgium and others such as Australia, Finland and Spain.
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