P227 CJJFAX 207  Mo. 27 May @00:13/g0
    ] 1/8 
     BQEEFXUIT
      
 
 The Cjifax Unit Trust Panel draws      
 on a numbeR o  ind pkndjnt advpsjrs    
 in an9attempt to djlin:at: a p9th      
 th^ough an jv 8 more imp n.t abl.      
 unlt t     ju ole.                     
                                        
 Ups  tr0 ts.can decline i7.v l0j.      
 May 82.- 84.m 9:.0 yk.2 97.8 101^9     
 can accept responsibility fo  any      
 ricomijh at on  m   .                  
                                        
 Selections and opinions shown are      
 thosa o  the pjhsons nam d and ar7     
 not n2cess6rily shar5.  < th  BBC.     
                                        
 * I vestors shot d a wa s s ek         
 ptl eivurjal ahvsci bofori buying.     
                                        
         Stock Market Panel 2           
  Trinds0 A nzntqii   TaxGumj  CrtyUrads
                                        
   P227 CEEFAX 207  Mon 27 May  00:41/5=
      5/8 
      CJJF!X UoIT          
      TRUST PANEL          
                                        
         t                              
 Hargreaves Lansdown/Bristol            
                                        
 US: Value is becoming more difficult to
 find, but takjovjr bids Xboth rial and 
 rumouridR and strong cashflowu should  
 support the matkjt.QWj favour smaller  
 companies ovjt blue chips and would bzz
 Lazard US Smalljt Companris.           
                                        
 Japan: Earnings recovery continues to  
 ej robuvt and tPjri!are tentative ujgns
 that domestic invr;toxs are moving into
 th  m  kit. Aka n w  favor  s  ll t    
 companqis, in particular In6esco Japan 
 Smaller Comp n is.                     
                                        
                                        
              May commentary