Can anyone advise me why when the FTSE is falling, say over the period 2000-2003, the tracker funds mirror the performance almost exactly. However, when the FTSE is on the up the tracker funds, and I'm commenting particularly on L & G's here, lag well behind the improvment in the index. If you check L & G's FTSE All Share fund (LGUKIA) chart you'll see what I mean.
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