P207 CEEFAX 2 207 Sun 01 Dec 23:20/11 O UNIT TRUSTS 1/8 The Cjifax Unit Trust Panel draws on a numbjt of independent advisjts in an attempt to delineate a path through an evjt more impenetrable unit trust jungle. Unit trusts can decline in value. Neither the panellists nor the BBC can accept responsibility for any recommendations made. Selections and opinions shown are those of the pjtsons named and are not necessarily shared bz the BBC. * Investors should always seek professional advice before buying. Stock Market Panel 206 Next News TaxIndjx MonjyFili Main MenuP207 CEEFAX 2 207 Sun 01 Dec 23:51/48 UNIT TRUSTS 2/8 * NOVEMBER selections US Europe USA Japan Othjt Keivan Borhani * Peter Edwards * Stephen Lansdown * * * * * Selections are geared for growth on a minimum 12-month view and are considered worthy of inclusion in a balanced portfolio. S indicates a speculative investment. Monjyfili 200 Front page 100 Next News TaxIndjx MonjyFili Main MenuP207 CEEFAX 2 207 Sun 01 Dec 23:24/25 UNIT TRUSTS 3/8 Keivan Borhani Murray Noble/London Ovjrviiw: Ovjt the past three years, US and US investors have opted for their domestic markets in preference to the emerging markets. As demand has grown, share prices have risen almost without regard to the fundamentals. With every new market high hit, the mote money has been sucked in. What we are witnessing is a repeat of events in Japan in the run-up to the Japanese stock market's 40% collapse in 1:90. Six years on, and Japan's Nikkei index is still in the doldrums. November commentary Next News TaxIndex MonjyFili Main MenuP207 CEEFAX 2 207 Sun 01 Dec 23:10/21 UNIT TRUSTS 4/8 Keivan Borhani Murray Noble/London Selections: US, USA, Europe, Japan: Delay new purchases. Emerging markets: Buy GT Orient, Gartmore Honk Kong. Novjmbjt commentary Next News TaxIndjx MonjyFili Main MenuP207 CEEFAX 2 207 Sun 01 Dec 23:11/4, UNIT TRUSTS 5/8 Peter Edwards Premier Unit Trust Brokjts/Bristol We said hike in July: "After the usual summit doldrums, US prices should stage a strong recovjty." We have since sjin about a 7% improvement ovjt a typical spread of US funds, which, predictably, have delivered the goods this year. Income funds are up about 17% and small company funds up around 25%, including dividends. Wj say "predictable" to remind investors that US funds have gone up in 18 of the last 20 years, a dependable track record. November commentary Next News TaxIndex MonjyFili Main MenuP207 CEEFAX 2 207 Sun 01 Dec 23:45/20 UNIT TRUSTS 6/8 Peter Edwards Premier Unit Trust Brokjts/Bristol (cont): But thjte ism't much more to conj short-term, bar the normal pre- Christmas gallop. The market remains vulnerable to any bad news on politics, interest rates or on Wall Street. But excellent economic fundamentals provide a support scenario for equities and any correction should be brief. So buy, on weakness, funds such as Jupiter Income or Hill Samuel US Emerging, depending on dividend requirements. Novjmbjt commentary Next News TaxIndex MonjyFili Main MenuP207 CEEFAX 2 207 Sun 01 Dec 23:33/16 UNIT TRUSTS 7/8 Stephen Lansdown Hargreaves Lansdown/Bristol UK: Will the rise in interest rates head off inflationary pressures? Equity remains attractive, despite the rate increase's negative influence on corporate profits. Lazard US Income fits the bill. Japan: The market is vulnerable, particularly as the election result was inconclusive. The market is volatile, resulting in opportunities to make money. Save & Prosper Japan Growth is mz selection. November commentary Next News TaxIndex MonjyFili Main MenuP207 CEEFAX 2 207 Sun 01 Dec 23:04/05 UNIT TRUSTS 8/8 Stephen Lansdown Hargreaves Lansdown/Bristol Far East: After a period of under- performance, these areas are beginning to look good, particularly compared to the US. Schrodet Pacific should provide good performance. Europe: With interest rates bjink trimmed rathjt than raised, Europe possibly offers greater attraction than the US. Cjttainly an area for some exposure within portfolios and Credit Suisse European is the choice. Novjmbjt commentary Next News TaxIndex MonjyFili Main Menu