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95% of funds produce positive returns for July

The recent rally has seen 95 per cent of funds produce a positive return in July, according to figures from Hargreaves Lansdown.

Of the 2254 funds in the IMA universe only 113 failed to make a positive return with Asia Pacific ex-Japan funds the biggest outperformers.

The sector produced nine of the top 10 best performers, with Melchior Asian opportunities leading the way with a return of 18.14 per cent. Other successful funds included the Baillie Gifford Pacific and Lloyd George Eastern opportunities funds.

The only fund in the top 10 that didn’t sit in the sector was Baring Korea, a specialist fund which is up 16.54 per cent in the past month.

Gilt funds struggled to perform after the MPC hinted that quantitative easing was about to end only to extend it last week.

Hargreaves Lansdown investment manager Ben Yearsley says: “Asian funds have continued their terrific run of late dominating the performance tables in July. However it wasn’t just Asia that was positive, in the UK, the FTSE 100 ended the month 8.5 per cent higher. This sustained performance run has resulted in emerging markets, Asian and higher risk specialist funds featuring in the top ten funds bought this month on the HL Vantage platform.”

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  1. 95% of funds produce positive returns for July
    The only trouble is that 95% of them seem to have produced negative results only the month before, so quite why HL are making such a song and dance about a good July I’m not quite sure. My prediction is that for at least the rest of this year, we’re going to see one month up then one month down, one month up, one month down and so on. Traders naturally want to see a sustained recovery, but as yet the fundamentals simply aren’t there and wishing that they were ain’t gonna make it so.

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