A UK portfolio of investments which may include, directly or indirectly, in overseas equities, preference shares, fixed interest stocks and warrants.
A strong performance during the quarter rounded off another positive year for UK equities. Nervousness over the strength of the US economy precipitated a downturn in shares in November, but the belief in an eventual soft landing, coupled with ample merger and acquisition activity, helped to rally the market in December. The FTSE AllShare Index ended the year close to a 5½year high. While in the UK merger and acquisition activity was most keenly felt among mediumsized companies, many larger firms were also affected, including Scottish Power, tobacco firm Gallaher, steelmaker Corus and the London Stock Exchange. Rumoured takeover interest also helped the likes of InterContinental Hotels and British Airways to significant gains.
|Latest Price||743.80p||IMA Sector||UK Equity Income|
|Currency||British Pound||Launch Date||16/10/1970|
|Fund Size||£1029.60m||Fund Manager||Richard Dunbar|
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