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Japan bounced, Europe held up, US small caps and tech under pressure.
What’s Hot
- Four Japanese funds have enjoyed the big bounce from the early August “flash crash”.
- Three European funds feature with hopes of a boost from lower interest rates this Autumn.
- UBS Global Equity Income is interesting. A small fund, but a global Value fund with 50%+ in the US.
- The Ruffer Gold fund shows in an otherwise relatively quiet month for gold
What’s Not
- The much publicised switch out of tech into US smaller companies was a trend which was measured in days, not even weeks…
- Three overt US smallcap funds struggled this month, along with other funds exposed to that sub sector and tech.
- The other funds are mostly idiosyncratic.
- Amati Metals is notable as it shows that confidence in some commodities is lacking in the absence of more sustained global growth, particularly more impetus from China
What’s Hot
|
Name
|
Sector
|
Last Month’s
Performance %
|
|
Invesco Japanese Equity Advantage (UK)
|
Japan
|
6.69
|
|
FTF Martin Currie Japan Equity
|
Japan
|
5.81
|
|
WS Ruffer Gold
|
Specialist
|
5.07
|
|
Baillie Gifford Japanese Smaller Companies
|
Japan
|
4.51
|
|
CT Japan
|
Japan
|
4.08
|
|
UBS Global Enhanced Equity Income Sustainable
|
Global Equity Income
|
3.67
|
|
abrdn Europe ex UK Ethical Equity
|
Europe Excluding UK
|
3.04
|
|
L&G Global Real Estate Dividend Index
|
Property Other
|
2.94
|
|
Santander Europe Ex UK Equities
|
Europe Excluding UK
|
2.88
|
|
Vanguard FTSE Developed Europe
ex-UK Equity Index
|
Europe Excluding UK
|
2.87
|
What’s Not
|
Name
|
Sector
|
Last Month’s
Performance %
|
|
FTF Royce US Smaller Companies
|
North American Smaller
Companies
|
-6.14
|
|
VT De Lisle America
|
North America
|
-6.04
|
|
Barings Korea Trust
|
Specialist
|
-5.44
|
|
Ninety One Global Special Situations
|
Global
|
-5.20
|
|
WS Amati Strategic Metals
|
Commodity/Natural Resources
|
-5.16
|
|
CT US Smaller Companies
|
North American Smaller
Companies
|
-5.04
|
|
Schroder US Smaller Companies
|
North American Smaller
Companies
|
-5.01
|
|
Liontrust Russia
|
Specialist
|
-4.98
|
|
Baillie Gifford Global Discovery
|
Global
|
-4.82
|
|
JOHCM Regnan Global Equity Impact Solutions
|
Global
|
-4.81
|
Fund performance 01/08/2024 – 30/08/2024. Funds <50m in size and ETFs excluded from the above research.
NOTE
We do this blog to simply highlight short term trends. These are not recommendations.