Certainly, some funds do better than others – but some simply crash and burn. Standard Life £40m UK equity recovery fund has managed to win the dubious distinction, as reported by Morningstar, of being the worst-performing fund across the IMA sectors for the last three months.
CF Richmond core fund has also taken a hit, falling by 23.92 %, followed closely by the £52.5m CF junior oils trust. Angelos Damaskos, the Sector Investment Managers chief executive, said, “Medium to smaller-sized companies have suffered the worst during the sell-off because of the risk aversion of investors. The mandate of the fund constrains us to these types of stocks.”
Another very poor performer at the moment is Standard Life’s £436.5m UK equity unconstrained fund. Manager of the fun Ed Legget said, “I have been overweight industrials, which has hurt particularly in the last few weeks. Industrials have de-rated by 25 to 30 per cent over a four-week time period.”
Next on the list of poor performers is the Cavendish European fund, followed by the Digital Stars Europe ex UK fund, Jupiter China, JPM Europe smaller companies and the Ignis European growth fund in 10th spot.