Peter Fitzgerald

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From Fund Selection 01 February 2009

By PWM Editor

“We bought back into the Invesco Perpetual High Income Fund. We sold this fund in 2008 given our concerns for both Sterling and the UK economy. Following the fall of sterling against the euro, we believe this fund now offers value. The best return in December was from Odey Pan European. This was followed by the US equity managers who also delivered positive returns. The IdB Real Estate Long Short fund also managed a positive return. One of the poorest returns was from the Invesco Perpetual High Income fund, due to the currency issues. It was at this point that we invested.”

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