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What’s Hot, What’s Not: Energy jumps, UK Gilts slump

Posted by: Ben Debney
Membership level: Free
There is quite a range of funds making the Top 10 this month, with most notable are the Energy funds.  What joins nearly all of these winners is their exposure to a cyclical recovery – energy, small caps, special sits, Value.
On the flip side are the bond funds which congregate in the bottom 10, including UK Gilts. This is what happens when you get a cyclical recovery – if so, there is a good chance that a 40 year uptrend, bull market, in bonds has reversed.
What’s Hot
  • A trio of Global Energy funds, housed by Schroder, Blackrock and Guinness. All three have significant exposures to Oil and Gas.
  • Two Targeted Absolute Return funds; LF Brook Absolute Return and Liontrust GF European Strategic Equity.
  • Representing the small caps are Premier Miton UK Smaller and M&G Japan Smaller.
  • There is also Ninety One Global Special Situations, a Value-style fund.
What’s Not
  • With the odds improving for higher inflation and higher interest rates, several bond and UK Gilt funds here, such as Janus Henderson Inst Long Dated Gilt and BNY Mellon Long Gilt.
  • Notice the emphasis on longer dated bonds, which are much more exposed to expectations of rising inflation.
  • In the Top 10 last month but now in the Bottom 10 this month is Nikko AM ARK Disruptive Innovation. Expect this one to swing around wildly going forward.
  • The other Specialist fund is Ninety One Global Gold.
What's Hot
Last Month Performance
Schroder ISF Global Energy 
IA Global
LF Brook Absolute Return
IA Targeted Absolute Return
BlackRock GF World Energy
IA Specialist
Guinness Global Energy
IA Global
Quilter Investors Global Unconstrained Equity
IA Global
Ninety One Global Special Situations
IA Global
Liontrust GF European Strategic Equity
IA Targeted Absolute Return
M&G Japan Smaller Companies
IA Japanese Smaller Cos.
Premier Miton UK Smaller Companies
IA UK Smaller Companies
T. Bailey Srvs Ltd (ACD) Aptus Global Financials
IA Global Equity Income
  Performance 01/02/2021-25/02/2021
What's Not
Last Month Performance
Nikko AM ARK Disruptive Innovation
IA Specialist
Ninety One Global Gold
IA Specialist
Janus Henderson Inst Long Dated Gilt
IA UK Gilts
Fidelity Institutional Long Bond 
IA Unclassified
Insight UK Government Long Maturity Bond
IA Unclassified
iShares Over 15 Years Gilts Index (UK)
IA UK Gilts
BNY Mellon Long Gilt
IA UK Gilts
Vanguard UK Long Duration Gilt Index
IA UK Gilts
Fidelity Institutional Sterling Core Plus Bond 
IA Unclassified
Pimco GIS Euro Long Average Duration
IA Global Bonds
 Performance 01/02/2021-25/02/2021
Topic: Fund analysis


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