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It is pleasing to report that markets have continued to build on the gains mentioned in our second quarter update. All major stock markets have delivered positive gains year to date with the stand-out performers being Europe, Asia and the UK (markets we have felt were undervalued for some time) – all delivering percentage returns in the high teens or above.
Technology stocks continued to drive strong returns from US markets, but as previously reported, continued US Dollar weakness meant returns were blunted somewhat in sterling terms.
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