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Quarterly Newsletter - Spring 2010


Following last yearís sharp rally in equities, stock markets continued to post largely positive gains in the year to date.  The Far East has been rather disappointing, registering minus 1.9% in Hong Kong and a positive, albeit small return of 3.8% in Japanís Nikkei Dow index.  The Dow Jones Euro Stoxx50 fell by 2.3%, whilst the other major markets did rather better: Americaís S&P 500 is up 8.4%, and the FTSE 100 is up 4.7%.  Overall, the MSCI World index managed 4.3%, and our own CF Lacomp World Fund is up 6.6%. 

What is fascinating at present is the diversity of opinions about the outlook for equities held by well known and acknowledged experts [...]. 

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