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Brexit sparks losses for three-quarters of UK equity funds


Three-quarters of funds in the UK equity sectors experienced negative returns in the week following Brexit, with the Jupiter UK Growth fund suffering the worst performance at -13.9 per cent.

Elite Webb Capital Smaller Companies Income and Growth fund and the Saracen Growth fund rounded out the bottom three returning -12.4 per cent and -12 per cent respectively.

The average return of funds in the IA UK All Caps, Small Caps and UK Equity Income sectors was -4.1 per cent, according to the FE data.

The data included performance for 396 funds for the period from the day of referendum to 1 July.

Fifty-one funds posted positive returns, with the Old Mutual Newton UK Income fund returning 4.5 per cent and Newton UK Income fund returning 4.2 per cent. The IFSL Trade Union Unit Trust rounded out the top three returning 4 per cent.

Over the same period the FTSE 100 returned 2.7 per cent and the FTSE All Share returned 1 per cent, while the FTSE 250 returned -6 per cent.



Osborne abandons 2020 budget surplus target after EU vote

The Chancellor George Osborne appears to have abandoned his target of turning the UK’s budget deficit into a surplus by 2020. In a speech today Osborne said the UK must be “realistic about achieving a surplus by the end of the decade”, reports the BBC. The drive to reach a surplus has been the justification […]


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  1. Julian Stevens 4th July 2016 at 4:37 pm

    Yet funnily enough, the value of my own widely diversified portfolio (that’s diversified both geographically, by asset classes and by funds) is higher than it’s ever been.

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