ML IIF World Gold returns 60%

The Merrill Gold & General fund was the top-performing unit trust over 2002, rising 68% compared to the universe average fall of 17.2%. But while the onshore fund is well known to intermediaries, the group's offshore MLIIF World Gold vehicle is less well known. The Luxembourg-domiciled portfolio, launched in 1994, is run by Evy Hambro and has produced returns in excess of 60% in 2002 thanks to a strong run by the asset class. As the traditional safe-haven asset in times of economic volatility, gold has proved uncorrelated to equities in recent times. The fund has risen 3.95% over one ...