Dresdner RCM restructuring

Dresdner RCM has restructured its UK Smaller Companies unit trust and switched it from a quasi-tech, media and telecoms bias to a more balanced growth portfolio. The changes follow poor short-term returns and the appointment of Neil Basten to manage the fund at the end of September 2000. Basten said: 'At the end of September, the exposure to the technology, media and telecoms sector was about 55%. While we have reduced our exposure to 36%, we remain overweight and this has negatively impacted performance. Some profits were taken throughout 2000 but with hindsight we should have been sli...