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<br /> The premier publication for the investment industry since 1995<br /> INVESTMENT<br /> 12 March 2012<br /> WEEK<br /> www.investmentweek.co.uk<br /> Russia . . . . . . . . . . . . . . . . 6 US Small Caps . . . . . . . 16 Conjecture. . . . . . . . . . . 24 Boutique Focus . . . . . . 30 Japan . . . . . . . . . . . . . . . . 41<br /> Max King Comment . . 8 Fund Manager Focus 18 The Big Question . . . . 26 Bull & Bear . . . . . . . . . . 32 Consistent 50 . . . . . . . . 52<br /> Investment Trusts . . . 12 One to Watch . . . . . . . . 21 Leader . . . . . . . . . . . . . . . 28 Features . . . . . . . . . .41-51 Fund Data . . . . . . . . . . . 54<br /> Gold spot price vs gold mining equities<br /> 600<br /> 500<br /> 400<br /> 300<br /> 200<br /> 100<br /> 0<br /> Gold Spot Price<br /> FTSE Gold Mines<br /> Apr 02 Apr 03 Apr 04 Apr 05 Apr 06 Apr 07 Apr 08 Apr 09 <a title="IW 12th Mar 2012 page 1" href="http://viewer.zmags.com/publication/d4a8bd6f?page=1"> The premier publication for the investment indu</a> <a title="IW 12th Mar 2012 page 2" href="http://viewer.zmags.com/publication/d4a8bd6f?page=2"> 2 Tel: Unless specified, prefix numbe</a> <a title="IW 12th Mar 2012 page 3" href="http://viewer.zmags.com/publication/d4a8bd6f?page=3"> 3 Schroders' Matthew Dobbs on why China is the </a> <a title="IW 12th Mar 2012 page 4" href="http://viewer.zmags.com/publication/d4a8bd6f?page=4"> </a> <a title="IW 12th Mar 2012 page 5" href="http://viewer.zmags.com/publication/d4a8bd6f?page=5"> 5 WebRound-Up:05.03.12-09.03.12 On the web t</a> <a title="IW 12th Mar 2012 page 6" href="http://viewer.zmags.com/publication/d4a8bd6f?page=6"> 6 Analysis What are the impl</a> <a title="IW 12th Mar 2012 page 7" href="http://viewer.zmags.com/publication/d4a8bd6f?page=7"> Never mind dug-out, is time to dig in. </a> <a title="IW 12th Mar 2012 page 8" href="http://viewer.zmags.com/publication/d4a8bd6f?page=8"> 8 Comment The FTSE 250 for the long term </a> <a title="IW 12th Mar 2012 page 9" href="http://viewer.zmags.com/publication/d4a8bd6f?page=9"> 9 Comment likes of Arm and Sage, have co</a> <a title="IW 12th Mar 2012 page 10" href="http://viewer.zmags.com/publication/d4a8bd6f?page=10"> 10 Comment The Investment Week team is </a> <a title="IW 12th Mar 2012 page 11" href="http://viewer.zmags.com/publication/d4a8bd6f?page=11"> Be a contender Join the ranks of champions. Wedn</a> <a title="IW 12th Mar 2012 page 12" href="http://viewer.zmags.com/publication/d4a8bd6f?page=12"> 12 BY KYLE CALDWELL STAY POSI</a> <a title="IW 12th Mar 2012 page 13" href="http://viewer.zmags.com/publication/d4a8bd6f?page=13"> For investment professionals only. Not to be view</a> <a title="IW 12th Mar 2012 page 14" href="http://viewer.zmags.com/publication/d4a8bd6f?page=14"> 14 Kay Review Top manager voices fears to Kay</a> <a title="IW 12th Mar 2012 page 15" href="http://viewer.zmags.com/publication/d4a8bd6f?page=15"> </a> <a title="IW 12th Mar 2012 page 16" href="http://viewer.zmags.com/publication/d4a8bd6f?page=16"> 16 News five ways to access US small </a> <a title="IW 12th Mar 2012 page 17" href="http://viewer.zmags.com/publication/d4a8bd6f?page=17"> 17 News a resurgence of US home- builders</a> <a title="IW 12th Mar 2012 page 18" href="http://viewer.zmags.com/publication/d4a8bd6f?page=18"> 18 Fund Manager Focus: Matthew Dobbs Asia Alph</a> <a title="IW 12th Mar 2012 page 19" href="http://viewer.zmags.com/publication/d4a8bd6f?page=19"> Fund Manager Focus faces challenges in shift t</a> <a title="IW 12th Mar 2012 page 20" href="http://viewer.zmags.com/publication/d4a8bd6f?page=20"> UK Property Trust Market beating yield of 4.1%*fr</a> <a title="IW 12th Mar 2012 page 21" href="http://viewer.zmags.com/publication/d4a8bd6f?page=21"> 21 OnetoWatch:HarrisAssociatesLargeCapValue L</a> <a title="IW 12th Mar 2012 page 22" href="http://viewer.zmags.com/publication/d4a8bd6f?page=22"> 22 News What is fund5live? Adviser delegates </a> <a title="IW 12th Mar 2012 page 23" href="http://viewer.zmags.com/publication/d4a8bd6f?page=23"> </a> <a title="IW 12th Mar 2012 page 24" href="http://viewer.zmags.com/publication/d4a8bd6f?page=24"> 24 Conjecture This panel discusses the outloo</a> <a title="IW 12th Mar 2012 page 25" href="http://viewer.zmags.com/publication/d4a8bd6f?page=25"> 25 Conjecture have a profound impact on c</a> <a title="IW 12th Mar 2012 page 26" href="http://viewer.zmags.com/publication/d4a8bd6f?page=26"> 26 The Big Question EdwardConroy co-mana</a> <a title="IW 12th Mar 2012 page 27" href="http://viewer.zmags.com/publication/d4a8bd6f?page=27"> 27 Post your views on www.investmentweek.co.uk/t</a> <a title="IW 12th Mar 2012 page 28" href="http://viewer.zmags.com/publication/d4a8bd6f?page=28"> 28 Leader How low can you go? MPC has scope</a> <a title="IW 12th Mar 2012 page 29" href="http://viewer.zmags.com/publication/d4a8bd6f?page=29"> 29 The Contrarian Investor Structured prod</a> <a title="IW 12th Mar 2012 page 30" href="http://viewer.zmags.com/publication/d4a8bd6f?page=30"> 30 BoutiqueFocus:RiverandMercantile Natalie K</a> <a title="IW 12th Mar 2012 page 31" href="http://viewer.zmags.com/publication/d4a8bd6f?page=31"> 31 Boutique Focus Mark Thomas “We have bu</a> <a title="IW 12th Mar 2012 page 32" href="http://viewer.zmags.com/publication/d4a8bd6f?page=32"> 32 Markets: Asset Allocation/Bonds As</a> <a title="IW 12th Mar 2012 page 33" href="http://viewer.zmags.com/publication/d4a8bd6f?page=33"> </a> <a title="IW 12th Mar 2012 page 34" href="http://viewer.zmags.com/publication/d4a8bd6f?page=34"> 34 Markets:UKGrowth AnthonyCrosson UKGrowth Th</a> <a title="IW 12th Mar 2012 page 35" href="http://viewer.zmags.com/publication/d4a8bd6f?page=35"> 35 Markets:UKIncome Giles Hargreave on UKIncom</a> <a title="IW 12th Mar 2012 page 36" href="http://viewer.zmags.com/publication/d4a8bd6f?page=36"> 36 Markets:NorthAmerica/Europe KullySamraon No</a> <a title="IW 12th Mar 2012 page 37" href="http://viewer.zmags.com/publication/d4a8bd6f?page=37"> Benchmark outperformance1 </a> <a title="IW 12th Mar 2012 page 38" href="http://viewer.zmags.com/publication/d4a8bd6f?page=38"> 38 Markets:Specialist/Emerging Ralf Oberbannsc</a> <a title="IW 12th Mar 2012 page 39" href="http://viewer.zmags.com/publication/d4a8bd6f?page=39"> Shanghai, China; a booming international city, re</a> <a title="IW 12th Mar 2012 page 40" href="http://viewer.zmags.com/publication/d4a8bd6f?page=40"> A modern take on investing. Structured Products i</a> <a title="IW 12th Mar 2012 page 41" href="http://viewer.zmags.com/publication/d4a8bd6f?page=41"> 41 FEATUREINDEX </a> <a title="IW 12th Mar 2012 page 42" href="http://viewer.zmags.com/publication/d4a8bd6f?page=42"> 42 SpecialReport:Japan Oneyearon… On Friday 11</a> <a title="IW 12th Mar 2012 page 43" href="http://viewer.zmags.com/publication/d4a8bd6f?page=43"> 43 SpecialReport:Japan Smaller companies outp</a> <a title="IW 12th Mar 2012 page 44" href="http://viewer.zmags.com/publication/d4a8bd6f?page=44"> 44 Feature:Exchange-TradedFunds Isabelle Bour</a> <a title="IW 12th Mar 2012 page 45" href="http://viewer.zmags.com/publication/d4a8bd6f?page=45"> </a> <a title="IW 12th Mar 2012 page 46" href="http://viewer.zmags.com/publication/d4a8bd6f?page=46"> 46 Feature:InvestmentTrusts Why it will be a </a> <a title="IW 12th Mar 2012 page 47" href="http://viewer.zmags.com/publication/d4a8bd6f?page=47"> The City of London Investment Trust How di</a> <a title="IW 12th Mar 2012 page 48" href="http://viewer.zmags.com/publication/d4a8bd6f?page=48"> BAILLIE GIFFORD AMERICAN FUND W</a> <a title="IW 12th Mar 2012 page 49" href="http://viewer.zmags.com/publication/d4a8bd6f?page=49"> 49 Feature:USA Joanna Faith talks to managers</a> <a title="IW 12th Mar 2012 page 50" href="http://viewer.zmags.com/publication/d4a8bd6f?page=50"> 50 Feature:Bonds Bubble territory or safe hav</a> <a title="IW 12th Mar 2012 page 51" href="http://viewer.zmags.com/publication/d4a8bd6f?page=51"> 51 Feature:Income With growth predictions for</a> <a title="IW 12th Mar 2012 page 52" href="http://viewer.zmags.com/publication/d4a8bd6f?page=52"> 52 The Consistent 50 Over three years across </a> <a title="IW 12th Mar 2012 page 53" href="http://viewer.zmags.com/publication/d4a8bd6f?page=53"> 53 The Consistent 50 Methodology Morningsta</a> <a title="IW 12th Mar 2012 page 54" href="http://viewer.zmags.com/publication/d4a8bd6f?page=54"> 54 Stats: Unit Trusts/OEICs Morningstar 1</a> <a title="IW 12th Mar 2012 page 55" href="http://viewer.zmags.com/publication/d4a8bd6f?page=55"> 55 Stats: Unit Trusts/OEICs Morningstar 1</a> <a title="IW 12th Mar 2012 page 56" href="http://viewer.zmags.com/publication/d4a8bd6f?page=56"> 56 Stats: Unit Trusts/OEICs Morningstar </a> <a title="IW 12th Mar 2012 page 57" href="http://viewer.zmags.com/publication/d4a8bd6f?page=57"> 57 Stats: Unit Trusts/OEICs Morningstar </a> <a title="IW 12th Mar 2012 page 58" href="http://viewer.zmags.com/publication/d4a8bd6f?page=58"> 58 Stats: Unit Trusts/OEICs Morningstar </a> <a title="IW 12th Mar 2012 page 59" href="http://viewer.zmags.com/publication/d4a8bd6f?page=59"> 59 Stats: Unit Trusts/OEICs Morningstar </a> <a title="IW 12th Mar 2012 page 60" href="http://viewer.zmags.com/publication/d4a8bd6f?page=60"> 60 Stats: Unit Trusts/OEICs Morningstar </a> <a title="IW 12th Mar 2012 page 61" href="http://viewer.zmags.com/publication/d4a8bd6f?page=61"> 61 Stats: Unit Trusts/OEICs Morningstar </a> <a title="IW 12th Mar 2012 page 62" href="http://viewer.zmags.com/publication/d4a8bd6f?page=62"> 62 Stats: Investment Trusts Morningstar 1</a> <a title="IW 12th Mar 2012 page 63" href="http://viewer.zmags.com/publication/d4a8bd6f?page=63"> 63 Stats: Investment Trusts Morningstar 1</a> <a title="IW 12th Mar 2012 page 64" href="http://viewer.zmags.com/publication/d4a8bd6f?page=64"> 64 The Back Page </a>