He believes Europe offers strong investment opportunities at the moment, and recommends TR European Growth from Henderson Investors, which grew 99 per cent over the last three years, and Gartmore European, which grew 105 per cent over the same period.Page’s preferred investment trusts include Aurora from Mars Asset Management, which grew 88 per cent over the last three years, and Scottish Value Management’s Under Value Assets fund, which grew 42 per cent over the last five years. He says some of the most spectacular investment trust growth has come in the venture and development capital sector.Figures from Lipper show the leading investment trust in this sector grew a whopping 5978 per cent over the last five years (see table). A number of trusts in the biotechnology and life sciences sector have also performed strongly. But these sectors can be highly risky and are not for nervous investors. Contacts: Mars Asset Management 020-7410 0025; Gartmore 020-7782 2000; Henderson Investors 020-7410 4100; Liontrust Investment Services 020-7412 1700; Scottish Value Management 0131-226 6699; Chartwell Investment Management 01225 446556; Countrywide Independent Advisers 01865 886000; Association of Investment Trust Companies 0800 085 8520 or www.itsonline.co.uk. There are many ways to invest and none is intrinsically better than the others.

In the final analysis, the only thing that matters about any share or pooled investment you buy is that it goes up. That said, it makes sense to focus on one method – you are more likely to become relatively expert, and success in investment is largely down to gaining an edge over other investors, however small. There are many ways to invest and none is intrinsically better than the others. In the final analysis, the only thing that matters about any share or pooled investment you buy is that it goes up. That said, it makes sense to focus on one method – you are more likely to become relatively expert, and success in investment is largely down to gaining an edge over other investors, however small.
Most investment approaches are based on one of two main analytical methods: fundamental and technical. Technical analysis, also known as charting, is growing in popularity, but it still remains a minority interest. Within the more widespread fundamental analysis, which most investors practice, there is a further schism between so-called value and growth.Actually, the distinction is not that helpful, because all investors are looking for value and none of them is averse to a bit of growth.

The most committed growth stock investor is actually doing no more than looking for value within a universe of growth shares. But there are important differences between the approaches and there are good reasons why most long-term investors should concentrate on growth shares themselves or buy into a fund which focuses on this kind of stock.A growth share is first and foremost a share that can demonstrate excellent profits growth prospects – it can grow its earnings per share at an above-average rate year after year. Although any company can grow by buying another business, it is the distinguishing characteristic of a growth share that it can produce organic growth from within.The main attraction for investors of this kind of company is that it can go on more or less indefinitely in the right circumstances. One of the best examples of this is Coca-Cola, which floated in 1919 at $40 a share, fell within a year to just $20, but then rose relentlessly not for years but for decades.

By the end of the century the $40 share was worth several million dollars.This kind of growth cannot be found in most value investments which have limited upside. This is because if a share’s only attraction is its low price relative to the value of, for example, a company’s assets it will lose its appeal as soon as the price rises to match those assets. Once it has done this, there is nowhere else to go.Another advantage of growth shares follows from this. Because growth shares just go on and on, an investor can buy them and forget them A famous American investor retired in 1944 with $5,000.