Expected Growth failing to materialise is key to poor performance of many European funds
Since the end of the strong bull market in 2001, European equity funds have faced difficult times. Most have experienced falling returns and some have struggled to keep volatility down. The Metzler Euro Growth fund has achieved average performance over the period, with high volatility. According to Carmen Weber, manager of the pure growth fund, the past one-and-a-half years have been difficult for the fund because, 'stocks we thought were growth stocks turned out to be cyclical.' In line with the markets, volatility on the fund was high during this period, reaching a peak in 2001, she...
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