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Special sits leads spring rally with 63% rise in two months

Emerging markets and smaller companies funds have made the biggest gains in the recent surge in markets, according to research from Financial Express.

Since the surge began on March 3, funds in the IMA global emerging markets sector have risen on average by 36.3 per cent, compared with a 27.8 per cent rise in the FTSE All-share index.

Asia Pacific ex Japan is the next best performing sector with a return of 31.76 per cent, with the IMA European smaller companies and UK smaller companies third and fourth with returns of 25.6 and 25.2 per cent respectively.

Close special situations has been the best-performing individual fund since the rally began, rising by 63.4 per cent. This is followed by the UK pairing of SVM UK opportu- nities and Standard Life UK equity unconstrained.

A number of leading emerging funds, which were hit hard following the downturn, are also sitting in the top 20 performers. These include JPM New Europe and Neptune Russia and Greater Russia, which have both returned more than 50 per cent between March 3 and May 7.

Hargreaves Lansdown investment manager Ben Yearsley says: “Despite the strength of those particular sectors in the rally, I see no reason why investors cannot take advantage of them for the long term as it is the short-term investors who need to be wary.”

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