What’s Hot
· 7 out of 10 hot funds are tech
· This was driven by hardware tech companies, notably semi-conductors
· Also note that this rush higher has not been driven by the traditional big names
· Korea has taken off again, but it does look a tad stretched
What’s Not
· An eclectic bunch
· 4 healthcare funds have struggled, with persistent interference from Trump, and growing profit margin pressure
· European defense was the big loser, as investors re-assessed “big weapons” vs cheap drones
· Two Japan funds gyrated into the bottom ten
· Guinness Global Energy features, bouncing around with the TACO-driven oil price, and spiking higher again as the month moved to a close
What's Hot
Name | Sector | Last Month’s Performance % |
|---|
Liontrust Global Technology | Technology & Technology Innovation | 28.03 |
Polar Capital Global Technology | Technology & Technology Innovation | 26.30 |
Amundi MSCI Semiconductors | Technology & Technology Innovation | 24.04 |
Barings Korea Trust | Specialist | 23.77 |
JPM Korea Equity Fund | Specialist | 21.63 |
Polar Capital Smart Energy | Specialist | 21.30 |
AXA Framlington Global Technology | Technology & Technology Innovation | 20.62 |
T. Rowe Price Global Technology Equity | Technology & Technology Innovation | 20.03 |
NB Next Generation Connectivity | Specialist | 20.02 |
GS Global Future Technology Leaders Equity Portfolio | Technology & Technology Innovation | 19.22 |
What's Not
Name | Sector | Last Month’s Performance % |
|---|
Amundi Stoxx Europe Defense | Specialist | -10.40 |
YFS Argonaut Absolute Return | Targeted Absolute Return | -8.96 |
WS Guinness Global Energy | Commodity/Natural Resources | -4.87 |
Asset Value Investors AVI Japanese Special Situations | Japan | -4.50 |
GS Global Future Health Care Equity Portfolio | Healthcare | -4.41 |
Fidelity Global Healthcare | Healthcare | -4.40 |
L&G Global Health and Pharmaceuticals Index Trust | Healthcare | -4.20 |
Orbis Japan Equity Fund | Japan | -3.92 |
Barings Global Agriculture | Commodity/Natural Resources | -3.84 |
AB International Health Care Portfolio | Healthcare | -3.52 |
Fund performance 01/04/2026 – 29/04/2026. 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.