Lincoln style underperforming

defensive style leads to short-term underperformance on far east fund, despite strong five years

A top-quartile performer over five years, the Lincoln Far East fund has struggled to maintain returns in the shorter one-year and three-month periods. Sitting at the bottom of the Asia Pacific ex Japan sector over those timeframes, the manager argued the fund has actually performed far better than expected. Managed by Elizabeth Desmond at Mondrian Investment Partners, the portfolio is ranked fourth of 53 over a five-year period to 13 February 2006, showing bid to bid returns of 91.1% against a sector average of 50.2%. All data is according to Standard and Poor's. Over 12 months to the...