We saw just one rising sector this month
| % Return |
|
| IMA UK Gilt |
2.05 |
| IMA Japan Smaller Companies |
-14.72 |
| IMA Japan |
-12.72 |
| IMA Europe ex UK |
-9.37 |
| FTSE All Share Index |
-6.52 |
| MSCI The World Index |
-9.23 |
Source: Financial Express Analytics
Fund summary: Biggest risers and fallers
| % Return |
|
| Close Special Situations |
11.97 |
| Neptune Russia & Greater Russia |
9.12 |
| Manek Growth |
8.21 |
| FF&P Japan Equity |
-21.68 |
| JPM Japan |
-20.05 |
| Skandia IM Global Property Securities |
-19.32 |
| FTSE All Share Index |
-6.52 |
| MSCI World Index |
-9.2 |
Source: Financial Express Analytics
News
- Yet more reason for Equity Income funds to minimise their holdings in banks came as dividend yields for the FTSE UK Indices were adjusted to include forecasts of zero dividends from the banks receiving government support.
- In order to reduce volatility M&G has reduced foreign government bond exposure within its cautious multi-asset fund in favour of sterling index-linked and sterling corporate bonds.
- Further bad news for the troubled asset managers, New Star were forced to wind up their much publiced Heart of Africa fund amid problems with liquidity. Last August the fund had £86m under management but this fell to £29m.
As fiscal stimulus plans in the UK begin to take effect and the European Central Bank take a more laissez-faire approach we can expect some recovery of the pound against the euro.