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.”