What’s Hot
· The “Hot” funds are, unsurprisingly, dominated by gold and metals, taking up 6 of the top 10 spaces, 7 if you include the Price Value fund with a heavy exposure to metals…
· Ninety One Global Gold edged towards a gain of 30% in the month, which is very rare.
· Liontrust showed that if you were in the “right” tech stocks you could have made a gain in excess of 10%.
· For emerging market fans it is encouraging to see one such fund featuring...
· Doubts over the US and the dollar appear to be positives for relatively cheap emerging markets.
What’s Not
· These are an eclectic bunch, with no single big theme
· There are a number of Value-style funds, but equally a good number did well over the month…
· It is similar with the dud Growth funds, plenty of others were just fine…
· So fund selection within sectors was key in the last month
· The Barings Global Agriculture fund is a surprise feature, with so many climate problems pushing prices higher…
· Some technical indictors suggest this fund is a “buy” near current levels – just be wary of the 50% exposure to the US.
What's Hot
| Name | Sector | Last Month's Performance % |
|---|
| Ninety One Global Gold | Specialist | 27.02 |
| Tutman FS SVS Baker Steel Gold & Precious Metals | Specialist | 25.32 |
| WS Ruffer Gold | Specialist | 22.29 |
| BlackRock Gold & General | Specialist | 19.52 |
| WS Amati Strategic Metals | Commodity/Natural Resources | 19.05 |
| Tutman FS SVS Baker Steel Electrum | Commodity/Natural Resources | 18.71 |
| Liontrust Russia | Specialist | 15.17 |
| VT Price Value Portfolio | Flexible Investment | 11.39 |
| TM Redwheel Global Emerging Markets Fund | Global Emerging Markets | 11.12 |
| Liontrust Global Technology | Technology & Technology Innovation | 11.05 |
What's Not
| Name | Sector | Last Month's Performance % |
|---|
| Troy Asset Management Ltd Trojan Global Income | Global Equity Income | -3.48 |
| FP Octopus UK Micro Cap Growth | UK Smaller Companies | -2.79 |
| Barings Global Agriculture | Commodity/Natural Resources | -2.70 |
| Ninety One UK Alpha | UK All Companies | -2.47 |
| TM Veritas Equity Strategy | Global | -2.43 |
| Premier Miton US Opportunities | North America | -2.40 |
| WS Montanaro Global Select | Global | -2.34 |
| Ninety One UK Equity Income | UK All Companies | -2.30 |
| IFSL Evenlode Income | UK All Companies | -2.11 |
| Thesis New Court Return Assets | Flexible Investment | -1.97 |
Fund performance 01/09/2025 – 30/09/2025. 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.