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Market turmoil 'hits investors hard'

Britain's investors are facing losses due to the stock market downturn, Reuters reports.

Turbulence on the global financial markets stemming from the collapse of the US sub-prime loans market last year has led to many funds being badly affected.

Popular funds from HSBC Morgan Stanley and AXA have been particularly hit, a study from Moneyspider.com has found.

However, others - such as the high income fund from Invesco Perpetual - have weathered the storm better.

Many people use stocks and shares funds to boost their savings - which can then be used as a deposit for a home loan.

Moneyspider.com operates as a financial ratings service for consumers - ranking investment funds from A to E.

Invesco Perpetual gained an A rating - while HSBC's fund, which holds £338 million, was granted a D.

Worse, the 'special situations' fund from Rathbone was given an E.

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