Independent IT- Rating Downgrade
By MARCEL PORCHERON 22/10/2007
Max Ward the manager of the trust has had to reassess his macro economic view after recent events in global markets. His fund was aggressively positioned in interest rate sensitive stocks, including Northern Rock, which have been hit hard in the last three to six months. In light of his current positioning we believe that it may take the manager some time to recover from this period of unexpected volatility. As a result we have downgraded the trust to two stars indicating a hold. We believe there are higher conviction alternatives elsewhere.
Market latest
|
Index
|
Points
|
+/-
|
| FTSE 100 |
5338.38 |
1.24%
|
| FTSE 250 |
10593.00 |
0.77%
|
| FTSE All Share |
2776.65 |
1.17%
|
| FTSE Euro 100 |
2025.68 |
1.17%
|
| S&P 500 |
1314.49 |
0.78%
|
| Nasdaq |
2841.98 |
1.12%
|
| Hang Seng |
19200.93 |
0.31%
|
| Nikkei 225 |
8876.59 |
0.86%
|
Values delayed by at least 15 minutes.
Source: Financial Express