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What’s Hot What’s Not: America Great Again; Absolute Returns? Not really…

Posted by: Sam Lees
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A similar set of tables to last month. The US has continued to press on up while property and absolute return struggle. Overall, it’s a more positive showing this month, with the worst fund down “just” 4.5%.
 
What’s Hot
  • US focussed funds are again prominent taking 5 of the top 10 spots. Four of them have a smaller company focus if you include Baillie Gifford Global Discovery, which has over 60% in the US…
  • …while one fund from the main North American sector makes up the rest of the US contingent.
  • Japan also has a good showing with the up-and-down Legg Mason fund sitting fourth in the table, just ahead of M&G’s smaller company fund, which makes a return to the Hot list.
  • A European and a Latin American fund make up the rest of the top 10…
  • …plus one global Value-focussed fund, which seeks out companies the manager believes are cheap without good reason.
What’s Not
  • Absolute Return and property make up most of the Not Hot list.
  • We had a closer look at Absolute Return last week, see here.
  • We wouldn’t expect sparkling returns from Direct Property at the moment, so it’s not a surprise to see them filling the bottom table.  
  • India also sits in the bottom table.  A country with great prospects due to a young population and reform minded leadership, but there are short-term worries over the pandemic response.

FURTHER READING

 
What's Hot
   
Name
Sector
Last Month Performance
JPM US Small Cap Growth
 North American Smaller Companies
18.19
LF Miton US Smaller Companies
 North American Smaller Companies
17.54
Baillie Gifford Global Discovery
 Global
17.16
Legg Mason IF Japan Equity
 Japan
16.13
Baillie Gifford European
 Europe Excluding UK
16.02
M&G Japan Smaller Companies
 Japanese Smaller Companies
15.82
Artemis US Smaller Companies
 North American Smaller Companies
15.74
Threadneedle Latin America
 Specialist
15.66
Ninety One Global Special Situations
 Global
15.43
Morgan Stanley US Advantage
 North America
15.4
 
 
What's Not
   
Name
Sector
Last Month Performance
SJP Alternative Assets
 Flexible Investment
-4.53
Jupiter India
 Specialist
-3.83
LF Equity Income
 UK Equity Income
-1.99
Schroder UK Dynamic Absolute Return
 Targeted Absolute Rtn
-1.87
Threadneedle UK Property Authorised
 UK Direct Property
-1.26
Artemis US Absolute Return
 Targeted Absolute Rtn
-1.07
Premier Defensive Growth
 Targeted Absolute Rtn
-0.95
TIME Investments ARC TIME Commercial Long Income
 UK Direct Property
-0.71
Threadneedle UK Absolute Alpha
 Targeted Absolute Rtn
-0.69
Aberdeen UK Property
 UK Direct Property
-0.68
Topic: Market commentary


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