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Bestinvest

Active Capital - Downgraded

By ROBERT HARLEY 16/10/2006

Active Capital - Downgraded by robert harley

Active Capital's recent poor performance can be attributed partly to the de-rating that has impacted the AIM market as a whole. However we have also been disappointed with the progress on specific investments and the lack of nearer term catalysts to realise value on others. Some existing investors will also have been disappointed by the decision to offer a partial redemption of their holding whilst extending the life of the trust. We believe there are higher conviction opportunities elsewhere and have suspended our rating on the fund.

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