David Bulteel

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From Fund Selection 01 March 2006

By PWM Editor

“Most equity markets have made further strong gains in January as conviction grows that 2006 will be another year of syncronised global growth. The eurozone and Japanese growth is accelerating, while the US economy remains firm after the Q4 hiccough in consumer demand. A period of consolidation is possible after such a broadly based rise, especially if the renewed strength in oil prices is sustained. If economies continue to cope well with high energy costs, equities remain attractively priced.”

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