What’s Hot What’s Not: America Great Again; Absolute Returns? Not really…

Fri 29 May 2020

By Sam Lees

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Market commentary


A similar set of tables to last month. The US has continued to press on up while property and absolute return struggle. Overall, it’s a more positive showing this month, with the worst fund down “just” 4.5%.

What’s Hot
  • US focussed funds are again prominent taking 5 of the top 10 spots. Four of them have a smaller company focus if you include Baillie Gifford Global Discovery, which has over 60% in the US…
  • …while one fund from the main North American sector makes up the rest of the US contingent.
  • Japan also has a good showing with the up-and-down Legg Mason fund sitting fourth in the table, just ahead of M&G’s smaller company fund, which makes a return to the Hot list.
  • A European and a Latin American fund make up the rest of the top 10…
  • …plus one global Value-focussed fund, which seeks out companies the manager believes are cheap without good reason.
What’s Not
  • Absolute Return and property make up most of the Not Hot list.
  • We had a closer look at Absolute Return last week, see here.
  • We wouldn’t expect sparkling returns from Direct Property at the moment, so it’s not a surprise to see them filling the bottom table.  
  • India also sits in the bottom table.  A country with great prospects due to a young population and reform minded leadership, but there are short-term worries over the pandemic response.


What's Hot
Last Month Performance
JPM US Small Cap Growth
 North American Smaller Companies
LF Miton US Smaller Companies
 North American Smaller Companies
Baillie Gifford Global Discovery
Legg Mason IF Japan Equity
Baillie Gifford European
 Europe Excluding UK
M&G Japan Smaller Companies
 Japanese Smaller Companies
Artemis US Smaller Companies
 North American Smaller Companies
Threadneedle Latin America
Ninety One Global Special Situations
Morgan Stanley US Advantage
 North America
What's Not
Last Month Performance
SJP Alternative Assets
 Flexible Investment
Jupiter India
LF Equity Income
 UK Equity Income
Schroder UK Dynamic Absolute Return
 Targeted Absolute Rtn
Threadneedle UK Property Authorised
 UK Direct Property
Artemis US Absolute Return
 Targeted Absolute Rtn
Premier Defensive Growth
 Targeted Absolute Rtn
TIME Investments ARC TIME Commercial Long Income
 UK Direct Property
Threadneedle UK Absolute Alpha
 Targeted Absolute Rtn
Aberdeen UK Property
 UK Direct Property


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