What’s Hot
• A handful of tech stocks not only drove the main US stock market index to new highs…
• …but also led to 100% dominance of tech in the top funds over the month.
• Worthwhile gains too, averaging around 10%.
• Be wary of chasing this unless you stay close to markets and have a sure hand when applying a stop-loss.
• A variety of shorter term risks around AI make such gains highly vulnerable.
What’s Not
• 7 of the 10 duds are oil or metals or heavily exposed thereto…
• …oil could be top again next month, that’s down to Trump…
• …but the downturn in metals, particularly gold, appears to have further to go.
• Biotech also took a hit, which can be volatile over shorter periods…
• …but the long term uptrend remains in place.
What's Hot
Name | Sector | Last Month's Performance % |
|---|
Amundi Global Memory Chips | Technology & Technology Innovation | 11.84 |
AMOVA ARK Disruptive Innovation | Specialist | 11.20 |
T. Rowe Price Global Technology Equity | Technology & Technology Innovation | 11.15 |
Franklin Technology | Technology & Technology Innovation | 10.58 |
Amundi MSCI Semiconductors | Technology & Technology Innovation | 10.22 |
Polar Capital Global Technology | Technology & Technology Innovation | 10.19 |
Pictet Security | Global | 9.92 |
AB International Technology Portfolio | Technology & Technology Innovation | 9.81 |
T. Rowe Price Global Technology Equity | Technology & Technology Innovation | 9.38 |
Polar Capital Smart Energy | Specialist | 9.27 |
What's Not
Name | Sector | Last Month's Performance & |
|---|
Lazard Global Equity Franchise | Global | -8.54 |
WS Amati Strategic Metals | Commodity/Natural Resources | -7.74 |
PIMCO GIS MLP & Energy Infrastructure | Specialist | -7.34 |
Tutman FS SVS Baker Steel Gold & Precious Metals | Specialist | -7.24 |
Tutman FS SVS Baker Steel Electrum | Commodity/Natural Resources | -7.24 |
Polar Capital Biotechnology | Specialist | -7.21 |
VT Price Value Portfolio | Flexible Investment | -6.51 |
Cohen & Steers European Real Estate Securities | Listed Property | -6.27 |
Candriam Equities L Australia | Specialist | -6.04 |
Quilter Investors Natural Resources Equity | Commodity/Natural Resources | -5.81 |
Fund performance 01/09/2026 – 30/09/2026. 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.