There is quite a range of funds making the Top 10 this month, with most notable are the Energy funds. What joins nearly all of these winners is their exposure to a cyclical recovery – energy, small caps, special sits, Value.
On the flip side are the bond funds which congregate in the bottom 10, including UK Gilts. This is what happens when you get a cyclical recovery – if so, there is a good chance that a 40 year uptrend, bull market, in bonds has reversed.
What’s Hot
- A trio of Global Energy funds, housed by Schroder, Blackrock and Guinness. All three have significant exposures to Oil and Gas.
- Two Targeted Absolute Return funds; LF Brook Absolute Return and Liontrust GF European Strategic Equity.
- Representing the small caps are Premier Miton UK Smaller and M&G Japan Smaller.
- There is also Ninety One Global Special Situations, a Value-style fund.
What’s Not
- With the odds improving for higher inflation and higher interest rates, several bond and UK Gilt funds here, such as Janus Henderson Inst Long Dated Gilt and BNY Mellon Long Gilt.
- Notice the emphasis on longer dated bonds, which are much more exposed to expectations of rising inflation.
- In the Top 10 last month but now in the Bottom 10 this month is Nikko AM ARK Disruptive Innovation. Expect this one to swing around wildly going forward.
- The other Specialist fund is Ninety One Global Gold.
What's Hot
|
Name
|
Sector
|
Last Month Performance
|
|
Schroder ISF Global Energy
|
IA Global
|
21.2
|
|
LF Brook Absolute Return
|
IA Targeted Absolute Return
|
20.4
|
|
BlackRock GF World Energy
|
IA Specialist
|
17.4
|
|
Guinness Global Energy
|
IA Global
|
16.0
|
|
Quilter Investors Global Unconstrained Equity
|
IA Global
|
14.8
|
|
Ninety One Global Special Situations
|
IA Global
|
13.7
|
|
Liontrust GF European Strategic Equity
|
IA Targeted Absolute Return
|
13.6
|
|
M&G Japan Smaller Companies
|
IA Japanese Smaller Cos.
|
13.1
|
|
Premier Miton UK Smaller Companies
|
IA UK Smaller Companies
|
13.0
|
|
T. Bailey Srvs Ltd (ACD) Aptus Global Financials
|
IA Global Equity Income
|
11.6
|
Performance 01/02/2021-25/02/2021
What's Not
|
Name
|
Sector
|
Last Month Performance
|
|
Nikko AM ARK Disruptive Innovation
|
IA Specialist
|
-12.8
|
|
Ninety One Global Gold
|
IA Specialist
|
-11.8
|
|
Janus Henderson Inst Long Dated Gilt
|
IA UK Gilts
|
-11.4
|
|
Fidelity Institutional Long Bond
|
IA Unclassified
|
-11.2
|
|
Insight UK Government Long Maturity Bond
|
IA Unclassified
|
-11.1
|
|
iShares Over 15 Years Gilts Index (UK)
|
IA UK Gilts
|
-11.0
|
|
BNY Mellon Long Gilt
|
IA UK Gilts
|
-10.8
|
|
Vanguard UK Long Duration Gilt Index
|
IA UK Gilts
|
-9.9
|
|
Fidelity Institutional Sterling Core Plus Bond
|
IA Unclassified
|
-9.3
|
|
Pimco GIS Euro Long Average Duration
|
IA Global Bonds
|
-8.3
|
Performance 01/02/2021-25/02/2021