Threadneedle and Invesco defy sector downturn

Threadneedle Pan European Smaller Cos and European Smaller Cos are two of just three funds to post positive returns over past three years

Positive returns in the European Smaller Companies sector have become rather scarce with only three funds entering positive territory over the three year period to 5 January 2009. Of the three funds, Morningstar figures show Threadneedle's Pan European Smaller Companies and European Smaller Companies vehicles lead with 17.61% and 15.12% respectively. Meanwhile, Invesco Perpetual European Smaller Companies trailed over the same period with returns of -30.16%. In fact, the Invesco Perpetual fund almost doubled the losses of Threadneedle's funds over the past year, with negative returns ...