Only three of the 31 Ima UK unit trust and Oeic sectors produced positive returns in July according to the latest Lipper monthly fund market report.
None of the equity sectors produced a positive return in the month, the three that were the Index Bear funds at 3.1 per cent, UK Gilts 0.23 per cent and Money Market 0.18 per cent.
Latin America suffered the worst of the equity sectors dropping 14.92 per cent, closely followed by European Smaller Companies down 13.28 per cent.
Lipper head of research Brian Harvey says: “The last couple of months have not been particularly good ones for UK Unit Trusts, especially equity funds. Having had flat performances for most of the year, June and July saw equity funds drop on average by 9.64 per cent and then 9.42 per cent.”