Its monthly review of British retail funds revealed that Neptune India and Jupiter India delivered the best returns between April 30 and May 29 – 22.65% and 22.53% respectively.
Lipper’s head of UK research, Richard Ramyar, said the market is hoping India will globalise itself further following the outcome of the election.
“The ejection of Communist interference from India’s governing coalition returned the ruling Congress party to power, increasing hopes of a more investment-friendly environment. Privatisation and greater foreign investment are now back on the agenda, and may eventually form a bullish tipping point in India fund returns,” he said.
At the peer group level, the best performing Investment Management Association (IMA) sector was £ High Yield. It was represented in the table of top funds by Marlborough High Yield Fixed Interest, which delivered 17.19% over the month.
Other frontrunners at the sector level were emerging market groupings—Global Emerging Markets, Asia Pacific excluding Japan, and Asia Pacific including Japan.
The Specialist and North American Smaller Companies sectors struggled most over the month, with Axa Framlington Biotech falling 10.15% and Swip North American Smaller Companies falling 8.77% over the period.