OBTAINING market data ahead of competitors is crucial for fund managers of Morgan Grenfell's European Growth Trust. London-based manager Peter Young, one of a team of 14 equity managers, ran the fund which has had an 89.35 per cent growth since 1991. Leaps in the stock price of Finnish telecommunications firm Nokia Oy helped Morgan Grenfell win awards for best performance in European equities over one and three years. 'Nokia is the largest holding in the fund but we are profit-taking and selling off some stock,' said Graham Kane, managing director of Morgan Grenfell Investment Funds Limited. 'We were the first big asset managers to visit Nokia which was the best-performing European stock last year with share prices almost trebling.' The US$605 million (HK$4.719 billion) European Growth Trust fund had a 21 per cent weighting in Sweden, but only six per cent in Britain. London-based fund managers did research across Europe in all sectors and shared information. Two fund managers researched emerging eastern European markets, including Poland, the Czech Republic and Hungary. As price earnings ratios increased in Europe, the fund's investors benefitted. 'For our investors, increases in P/E ratios meant higher returns,' Mr Kane said. Financial analysts Hindsight found the fund recorded an 18.8 per cent positive return for the year to February on an offer-to-offer basis. Over a three-year period, Morgan Grenfell European Growth Trust had an 89.35 per cent positive return.