The best and worst performing funds in July reveal how markets responded to multiple significant events happening all in the space of 31 days, including a general election in the UK, a parliamentary election in France, Kamala Harris becoming the US Democratic candidate, and a Trump assassination attempt.
Overall, 67.65% of the 3107 funds in our dataset (Morningstar rated and available for sale in the UK) were up in July. The worst performer was down -12.49%, with only two funds in double digit loss territory. Meanwhile, the best-performing fund was up 9%.
US and UK small- and mid-cap funds dominated the top performance spots, accounting for the majority of the best 25 highest returns.
Meanwhile, the sell-off hitting US stocks meant tech and large cap funds, which have sat comfortably at the top for most of the year due to the AI trend, fell behind. These vehicles join China strategies, which remain at the bottom of the performance tables on the news of slowing Chinese economic growth.
The Three Best Performing Funds in July
Goldman Sachs US Small Cap CORE Equity Portfolio
Morningstar Medalist Rating: Bronze
Fund Size: £101.5 million
Ongoing Charge: 0.85%
The actively managed Goldman Sachs US Small Cap CORE Equity Portfolio gained 9.0% in July, outperforming the average fund in the US small-cap-cap equity category, which rose 5.57%. The fund placed in the sixth percentile for performance and beat its benchmark, the Russell 2000 Index, by 0.6 percentage points. The £101.5 million fund has gained 15.97% year to date, while the average fund in its category is up 9.29%.
Guinness Asset Management Funds PLC – Global Money Managers
Morningstar Medalist Rating: Gold
Fund Size: £7 million
Ongoing Charge: 0.74%
The £7 million Guinness Global Money Managers rose 8.43% in July. The gain on the actively managed fund beat the 3.47% gain on the average fund in the equity financial services category, leaving it in the third percentile for performance. The fund beat its benchmark, the MSCI World Index, by 8.28 percentage points. Year to date, the Guinness fund rose 12.09%, while the average fund in its category rose 13.98%.
CT US Smaller Companies Fund
Morningstar Medalist Rating: Negative
Fund Size: £59.7 million
Ongoing Charge: 0.82%
The actively managed CT US Smaller Companies gained 8.15% in July, outperforming the average fund in the US small-cap-cap equity category, which rose 5.57%. The fund placed in the 18th percentile for performance and lagged its benchmark, the Russell 2000 Index, by 0.26 percentage points. The £59.7 million fund has gained 12.66% year to date, while the average fund in its category is up 9.29%.
The Three Worst Performing Funds in July
Liontrust Global Technology Fund
Morningstar Medalist Rating: Neutral
Fund Size: £208.2 million
Ongoing Charge: 0.87%
The £208.2 million Liontrust Global Technology, which falls into the equity technology category, fell 12.49% in July. Year to date, the Liontrust fund is up 9.44%.
Liontrust Global Innovation Fund
Morningstar Medalist Rating: Neutral
Fund Size: £223.3 million
Ongoing Charge: 0.87%
The £223.3 million Liontrust Global Innovation, which falls into the global large-cap growth equity category, fell 10.13% in July. Year to date, the Liontrust fund is up 5.77%.
T. Rowe Price Funds OEIC China Evolution Equity Fund
Morningstar Medalist Rating: Silver
Fund Size: £4.8 million
Ongoing Charge: 0.99%
In July, the actively managed T. Rowe Price Funds OEIC China Evolution Equity fell 8.77%, while the average China equity fund lost 4.11%. The fund placed in the 100th percentile for performance and fell further than its benchmark, the MSCI China All Shares Index, by 6.5 percentage points. The £4.8 million fund has climbed 1.1% year to date, outperforming the average fund in its category, which fell 1.62%.
This article was generated with the help of automation and reviewed by Morningstar editors.