Michael Richter

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From Fund Selection 01 February 2005

By PWM Editor

“As we expected equity markets, especially emerging markets, have performed very well. With Japan lagging behind our expectations we cut back the Newton Japan Equity to 4 per cent and therefore increased the Fidelity European Growth Fund by 2 per cent and the Oyster fund by 1 per cent. We also took profits in the M&G Global Leaders fund and raised the stake of the defensive Meinl European Land to 10 per cent.”

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