Despite the negative Trump headlines, if not a sense of some chaos, the US dominates the top performers in the last month, while Asia and emerging markets sunk.
Eight of the Top 10 funds are either US funds or are dominated by US holdings. It is not yet clear that this is the beginning of a new break upwards in the US, and will will be very interesting to see if momentum lasts through July.
The exceptions in the Top 10 are Slater Growth and Liontrust UK Micro Cap. The Slater fund has held on to sharp gains earlier in the month – it has a heavy technology and biotech exposure. The Liontrust fund is interesting, seeking out opportunities even lower down the size scale than their excellent smaller companies fund – again a large tech exposure.
The bottom 10 is dominated by Asian and emerging market funds, with widespread worries over US rates rising, a stronger US dollar, and trade wars. One poor month does not kill off “The Asian Century” – but is this an opportunity, or a more prolonged slowdown? One for us to revisit in the next month.
What's Hot?
|
Name
|
Sector
|
Last Month Performance
|
|
Morgan Stanley Global Brands
|
Global
|
4.52
|
|
Slater Growth
|
UK All Companies
|
4.47
|
|
Baillie Gifford American B
|
North America
|
4.37
|
|
LF Miton US Smaller Companies
|
North American Smaller Companies
|
4.37
|
|
L&G UK Alpha Trust
|
UK All Companies
|
4.35
|
|
MFM Techinvest Technology
|
Technology & Telecommunications
|
4.15
|
|
Schroder Global Cities Real Estate Income
|
Property
|
3.72
|
|
Investec Global Franchise R
|
Global
|
3.66
|
|
Liontrust UK Micro Cap
|
UK Smaller Companies
|
3.47
|
|
Troy AM Trojan Global Income
|
Global Equity Income
|
3.41
|
What's Not?
|
Name
|
Sector
|
Last Month Performance
|
|
Baring Korea Trust
|
Specialist
|
-6.44
|
|
Baring German Growth Trust
|
Specialist
|
-6.36
|
|
Marlborough Far East Growth
|
Asia Pacific Excluding Japan
|
-5.90
|
|
Jupiter Asian
|
Asia Pacific Excluding Japan
|
-5.69
|
|
Marlborough Emerging Markets
|
Global Emerging Markets
|
-5.61
|
|
M&G Global Emerging Markets
|
Global Emerging Markets
|
-5.54
|
|
Neptune Emerging Markets
|
Global Emerging Markets
|
-5.40
|
|
M&G Asian
|
Asia Pacific Excluding Japan
|
-5.22
|
|
HSBC Asian Growth Ret
|
Asia Pacific Excluding Japan
|
-5.15
|
|
Standard Life Invs Global Emerging Markets
|
Global Emerging Markets
|
-5.15
|