Funds that invest in European equities are mostly quite young.

Over the last three years, European equities have returned nearly 22 percent, annualized.

European equities have fallen by a quarter since April.

I have seen conservative estimates that project institutional demand for European equities to be $11 trillion between now and 2010.

We continue to expect 10 percent to 15 percent appreciation in European equities on a 12-month view.

There are an increasing number of trusts concentrating either solely or mainly on European equities.

The cost is considerable, as stockbrokers generally charge higher commissions on deals in European equities.

However, all European equities are considered vulnerable to the deep uncertainties afflicting the Continent.

The fund, which has attracted $600 million since it started last October, is fully invested in Western European equities.

Why should you invest in European equities?