CHOPPY MARKETS

* Overall, the water sector did no better than the market as a whole during the recent equity market turmoil – furthermore, there was no discernable flight to quality within the sector.

Pictet’s Water Fund (which has a reasonably conservative portfolio) is down 1.81% so far this year, against 1.84% for its benchmark, the MSCI World Equities Index.

* Even less happy with recent stock market volatility were those working on the initial public offering of 3i Infrastructure Limited. The £700 million deal – the largest for a European infrastructure investment ...

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