Mixed equities performance in 2007
Mining stocks were the top performers in 2007 but banks showed the largest losses, according to Trevor Greetham, manager of the Fidelity Multi-Asset strategic Fund (MASF).
Mining stocks delivered returns of 56% in dollar terms, while investors in banks saw their return fall by an average of 9%. The UK stock market followed roughly the same pattern, with mining stocks showing the same return of 56%, while UK bank stocks fell by 16%. The financial sector was not the worst performer in the UK however – general retailers recorded a loss of 22%.
Greetham said: “While equities did deliver positive returns in 2007 – they finished the year up 11% – the stock market indices were increasingly volatile and sector performance was very mixed. Strong returns from companies in basic materials and oils were offset by corrections in financial and consumer stock prices.”