The best and worst: International Equity Growth Unit Trusts

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The Independent Online
Prosperity's Emerging Markets Trust has done well out of countries such as Mexico and Brazil.

But these markets have come off the boil this year - Mexico because interest rates have increased and Brazil because of political scandal. The fund now has 26 per cent of its money in South America but is concentrating on South-East Asia. It is ranked 126th out of 161 funds over six months, and 157th out of 161 over a month.

The fund is one of 10 owned by Prosperity Unit Trust Management, part of the stricken Municipal Mutual Insurance group. Prosperity's managers say unit- holders' money cannot be touched if the parent group collapses. However, it is entering a period of uncertainty since a buyer is likely to be sought for the business.

Framlington Health and Scottish Equitable Technology have done well in the past from US healthcare stocks. But these have taken a hammering in the last few months after relentless price rises.

Buckmaster Management Company, part of the Credit Suisse banking group, argues that its ethical Fellowship fund should not be classified as an international fund because 90 per cent of its money is normally invested in the UK. With such a high British content, it is not surprising the fund shows up badly in the international sector. This apart, Buckmaster is unhappy with the performance of the fund and has relaxed some of the ethical restrictions to broaden the choice of share.

------------------------------------------------------------------- International Equity Growth Unit Trusts ------------------------------------------------------------------- The best pounds 1 Framlington Health 170.83 2 Scot Equitable Technology 131.10 3 Prosperity Emerging Markets 129.11 4 Schroder Inst Overseas Sm Cos 128.68 5 Martin Currie Intl Growth 125.22 The worst 98 Buckmaster Fellowship 64.80 99 CU Worldwide Special Sits 62.88 100 Aetna International Growth 59.42 101 Brown Shipley Managed Portfolio 59.05 102 Dolphin Special Sits 43.97 ------------------------------------------------------------------- Value of pounds 100 over five years to 1 October. Offer-to-bid, income reinvested. Source: Micropal -------------------------------------------------------------------

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