What’s Hot
· Renewed expectations of US rate cuts buoyed US smallers
· Commodities were helped by a gold bounce, though the sector level increase is negligible
· The limited moves in the other three sectors illustrate that it was a dull month for most
What’s Not
· Tech sector leads the dogs, as doubts grow over AI
· Two Asian sectors drifted down, along with China and Japan over the month
· It will be interesting to see if weakness is Europe persists as we enter 2026
· The appearance of UK smallers is disappointing ahead of the Budget – lack of investor confidence clearly
What’s Hot
| Name | Last Month's Performance % |
|---|
| North American Smaller Companies | 1.57 |
| Commodity/Natural Resources | 0.73 |
| Global EM Bonds Blended | 0.46 |
| Sterling High Yield | 0.07 |
| Specialist | 0.04 |
What’s Not
| Name | Last Month's Performance % |
|---|
| Technology & Technology Innovation | -7.36 |
| Asia Pacific Including Japan | -4.08 |
| Europe Including UK | -3.28 |
| UK Smaller Companies | -2.94 |
| Asia Pacific Excluding Japan | -2.80 |