Almost
80%
of
the
3,200
Morningstar
rated
funds
rose
in
May,
a
month
that
saw
UK
markets
hit
record
highs.
The
worst
performer
fund
was
down
7%
while
the
best-performing
was
up
almost
10%.
Nine
out
of
the
top
10
funds
in
May
were
UK
equity
strategies.
There
was
plenty
going
in
UK
politics
and
economics
in
May:
UK
prime
minister
Rishi
Sunak
announced
a
general
election
for
July
4,
inflation
came
down
to
2.3%,
and
the
country
exited
a
technical
recession.
Ben
Yearsley,
director
at
Fairview
Investing,
says:
“Following
on
from
April’s
new
FTSE
high,
May
has
continued
the
same
trend.
The
UK
market
finally
appears
to
be
garnering
attention.
Takeovers
and
M&A
are
almost
a
daily
occurrence
now
–
some
rebuffed
liked
BHP’s
attempt
at
Anglo
and
the
PE
approach
for
Hargreaves
Lansdown,
and
others
go
through.
“It’s
fascinating
though
that
UK
small
cap
is
also
joining
the
party
topping
the
performance
charts
in
May
–
the
rally
is
spreading.
Despite
this,
the
UK
still
looks
cheap
offering
good
yields
and
defensive
characteristics
–
one
of
the
only
things
missing
is
proper
growth
stocks.”
At
the
other
end
of
the
spectrum,
Latin
America
had
a
disappointing
month.
These
funds
occupy
half
of
the
10
bottom
spots.
However,
equity
categories
for
Africa
and
Middle
East,
US
large-cap
growth,
Brazil,
and
Japan
small/mid-cap
that
struggled
the
most.
Every
month,
we
look
at
the
performance
of
funds
available
to
UK
investors
rated
by
Morningstar,
tracking
the
best
and
worst
returns
among
funds
available
for
sale.
The
Best
Three
Performers
in
May
2024
Invesco
UK
Smaller
Companies
Equity
Fund
(UK)
The
actively
managed
Invesco
UK
Smaller
Companies
Equity
Fund
(UK) was
up
9.32%
in
May,
outperforming
the
average
fund
in
the
UK
small-cap
equity
category,
which
rose
6.24%.
The
£457.7
million
fund
has
gained
8.01%
year
to
date,
while
the
average
fund
in
its
category
is
up
10.77%.
Over
the
past
three
years,
the
Invesco
fund
has
dropped
5.67%,
compared
to
the
4.75%
loss
for
the
category.
WS
Amati
UK
Listed
Smaller
Companies
Fund
In
May,
the
actively
managed
WS
Amati
UK
Listed
Smaller
Companies
Fund
rose
8.96%,
while
the
average
UK
small-cap
equity
fund
gained
6.24%.
The
£429.5
million
fund
has
climbed
12.43%
year
to
date,
outperforming
the
average
fund
in
its
category,
which
rose
10.77%.
Over
the
past
three
years,
the
Amati
fund
is
down
8.99%,
while
the
average
fund
in
its
category
is
down
4.75%.
SVS
Dowgate
Wealth
UK
New
Economies
Fund
The
actively
managed
SVS
Dowgate
Wealth
UK
New
Economies
Fund
was
up
8.96%
in
May,
outperforming
the
average
fund
in
the
UK
flex-cap
equity
category,
which
rose
3.44%.
The
£15.2
million
fund
has
gained
13.79%
year
to
date,
while
the
average
fund
in
its
category
is
up
8.03%.
Over
the
past
three
years,
the
Evelyn
Partners
fund
has
climbed
0.50%,
compared
to
the
2.40%
gain
for
the
category.
The
Worst
Three
Performers
in
May
2024
Magna
Umbrella
Fund
PLC
–
Magna
MENA
Fund
The
actively
managed
Magna
Umbrella
Fund
PLC
–
Magna
MENA
Fund was
down
7.16%
in
May,
falling
further
than
the
average
fund
in
the
Africa
&
Middle
East
equity
category,
which
fell
5.98%.
The
£74.3
million
fund
has
lost
0.21%
year
to
date,
while
the
average
fund
in
its
category
is
down
2.40%.
Over
the
past
three
years,
the
Fiera
Capital
fund
has
climbed
18.60%,
compared
to
the
10.67%
gain
for
the
category.
Morgan
Stanley
Funds
(UK)
–
US
Advantage
Fund
The
actively
managed
Morgan
Stanley
Funds
(UK)
–
US
Advantage
Fund was
down
7.10%
in
May,
underperforming
the
average
fund
in
the
US
large-cap-cap
growth
equity
category,
which
rose
1.77%.
The
£68.2
million
fund
has
lost
5.88%
year
to
date,
while
the
average
fund
in
its
category
is
up
9.33%.
Over
the
past
year,
the
Morgan
Stanley
fund
has
climbed
8.78%,
compared
to
the
23.46%
gain
for
the
category.
HSBC
Global
Investment
Funds
–
Brazil
Equity
The
actively
managed
HSBC
Global
Investment
Funds
–
Brazil
Equity was
down
7.09%
in
May,
falling
further
than
the
average
fund
in
the
Brazil
equity
category,
which
fell
5.20%.
The
£100.7
million
fund
has
lost
18.27%
year
to
date,
while
the
average
fund
in
its
category
is
down
15.27%.
Over
the
past
three
years,
the
HSBC
fund
has
dropped
4.13%,
compared
to
the
0.02%
loss
for
the
category.
This
article
was
generated with
the
help
of
automation and
reviewed
by
Morningstar
editors.
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