To display a different month please select a date from the drop down list:
The Federal Reserve Bank's decisive action with respect to the rescue of Bear Stearns and in cutting interest rates has contributed some certainty to a fragile scenario in developed financial markets.
Many companies around the world which are not, or are less, exposed to the financial storm, continue to report favourable trading conditions.
We have continued to identify long term buying opportunities in this period and new holdings have been taken in Nintendo, US Steel, Richemont, and DBS (Singapore's largest bank). Additions have also been made to some existing holdings.
Investment markets and conditions can change rapidly and the views expressed by our Managers should not be relied upon when making investment decisions. Remember, past performance is not a guide to future performance. The value of your investment may go down as well as up and you may not get back the amount you invested. Also, as the Trust invests in overseas securities changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.
