Equity markets to rise in third quarter

World stock markets at last appear to be building themselves a platform for recovery. Their anticipated outperformance in 2002 has prompted us to strengthen our position in equities at the expense of bonds. Over the first quarter, we reduced the fixed interest weighting of our Hallmark Growth Portfolio Fund from about 13% to 10% and we will be looking to reduce this still further as the equity rally gathers pace. On a global level, we favour Southeast Asia, which was the best performing major equity market area in the first quarter, rising a sterling-adjusted 14.3%. Asian economies are...