Robert Burdett

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From Fund Selection 01 March 2005

By PWM Editor

“Investors have had a good start to the year in most markets, with Japan, the UK and the emerging markets leading the way and equities outperforming bonds. Laggards have been North America and continental Europe. This generally suited our portfolio over and underweight. Fund selections have performed well in general too and the exceptions that underperformed did so in character so we have no concerns at this stage.”

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Robert Burdett

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