UK - The value of balanced funds fell dramatically in the three months to the end of October, latest figures from HSBC Actuaries and Consultants show.
All the fund managers analysed in its IMAGE survey turned in negative performance figures but there were wide disparities between the best and the worst performers in the balanced fund market.
The best performing balanced managers were JPMorgan Fleming -2.1%, Standard Life -2.35% and Dresdner RCM -2.4%, while the worst were Edinburgh Fund Managers -4.7%, Insight Investment -4.9% and Glasgow Investment Managers -7.2%.
Glasgow Investment Managers is also the worst performer over one, three and five years with negative returns of 25.9%, 15.2% 5.2% respectively.
But it remains the best balanced manager over the past 10 years – delivering an average annual return of 9.9%.
At October 31, average allocation of balanced managers to UK equities was 53%, overseas equities 26%, fixed interest 14.4%, index-linked 0.1%, property 2.3% and cash 4.3%.
The survey compares the results that a scheme would have achieved had it been invested in a unitised range of 39 investment managers.
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