Framlington trust beats benchmark

The Framlington Innovative Growth investment trust has beaten its FTSE SmallCap index benchmark over the six months to the end of December.
While the trust rose 22.1%, the index increased by 17.3%. Speaking about the outlook for 2004, trust chairman Sir Hugh Sykes says the euro has taken the “burden of adjustment” against the falling dollar because Asian currencies are pegged to the greenback. Because of this, Sykes says the trust will remain focused on the UK: “The resultant strength of the euro poses a serious threat to Continental European profits this year.”