Far East and emerging markets come out on top
Fund performance in April was dominated by the Far East and emerging markets, according to Dr Richard Ramyar, head of research at Reuters UK & Ireland (UK&I).
Despite this, April’s top performing fund was Investec’s Global Energy fund, giving a 14.7% return. The top performing Investment Management Association (IMA) sector was the Asia Pacific excluding Japan sector, giving a return of 8.34%, which was strongly driven by investments in China.
China and Hong Kong funds from Jupiter (13.86% return), Threadneedle (13.58% return) and Invesco (13.27% return) dominated the top five fund performers. The IMA Japan sector, delivering a 7.46% return, was the third highest performing sector.
Dr Ramyar said: “The only sector to break the mould in April’s top five was the IMA technology and telecoms sector (7.53% return). It thrust through as the month’s second best performing sector with the backdrop of Microsoft’s much discussed offer to purchase Yahoo and surges in equities of Korean and Japanese chip-makers.”