What’s Hot
· All of the top 10 were driven by a sharp recovery in gold miners.
· Our working assumption is that this is a bounce within a correction which is ongoing.
· Why? Because in a correction worthy of the name, investor sentiment turns very sour…
· …and you will see little positive in the media about gold.
· Neither of these factors apply now…
· …so we assume a resumption of the downtrend which began in early March.
· If the current bounce goes much higher, we are wrong.
What’s Not
· Five emerging market funds feature in the duds…
· …including China and Brazil.
· Even so, falls are confined to 2-3%.
· Two US small cap funds are suffering from concerns over their economy.
· Two European property funds probably share the same concerns.
What’s Hot
Name | Sector | Last Month's Performance % |
|---|
Amundi Gold Miners | Specialist | 38.93 |
Ninety One Global Gold | Specialist | 34.88 |
Tutman FS SVS Baker Steel Gold & Precious Metals | Specialist | 34.19 |
BlackRock Gold & General | Specialist | 34.16 |
Quilter Investors Precious Metals Equity | Specialist | 33.45 |
WS Ruffer Gold | Specialist | 31.16 |
WS Amati Strategic Metals | Commodity/Natural Resources | 30.60 |
Jupiter Gold And Silver | Specialist | 28.86 |
Tutman FS SVS Baker Steel Electrum | Commodity/Natural Resources | 21.91 |
BlackRock World Mining | Commodity/Natural Resources | 20.28 |
What’s Not
Name | Sector | Last Month's Performance % |
|---|
GQG Partners Emerging Markets Equity | Global Emerging Markets | -3.95 |
Cohen & Steers European Real Estate Securities | Listed Property | -3.29 |
Amundi MSCI China ESG Selection | China/Greater China | -3.25 |
Janus Henderson Horizon Pan European Property Equities | Listed Property | -2.92 |
GAM Star China Equity | China/Greater China | -2.90 |
WS Lancaster Absolute Return | Targeted Absolute Return | -2.79 |
CT American Smaller Companies (US) | North American Smaller Companies | -2.62 |
HSBC Brazil Equity | Specialist | -2.60 |
FTF Royce US Smaller Companies | North American Smaller Companies | -2.59 |
Pictet China Index | China/Greater China | -2.55 |
Fund performance 01/08/2026 – 27/08/2026. 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.