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US funds dominate performance tables in January

USA Statue of Liberty America 480

US funds dominated the performance tables in January as global markets surged upwards after a deal was reached to avert the US fiscal cliff.

Six of the top-ten best performing funds were US offerings with the Legg Mason Capital Management Opportunity fund leading the way with a return of 13.7 per cent, according to figures from Lipper.

Other US funds in the top ten included the Neptune US Opportunities, M&G North American Value and the Investec American funds.

The last minute deal by US policymakers will raise taxes for the wealthy and delay spending cuts until the end of February. There has been mounting pressure for US policymakers to pass the vote to tackle the fiscal cliff before markets re-opened in the New Year.

The IMA North American Smaller Companies sector was the top-perfoming sector in January, having returned 10.5 per cent, followed by the IMA North American sector, which returned 10.3 per cent. European funds also performed strongly with IMA Europe ex-UK, European Smaller Companies and the Europe including-UK sectors rounding off the top-five performers in January.

Hargreaves Lansdown senior investment manager Adrian Lowcock says: “The rally in January started on the back of an agreement of sorts over the US fiscal cliff and was fuelled by a combination of improved economic outlook and unlimited monetary stimulus. Given the US is the world’s largest economy and home to the world’s largest stockmarket, I would expect where the US leads the rest to follow.”

Top ten performing funds in January 2013

Name % growth
Legg Mason Capital Management Opportunity 13.69
Investec Global Energy A Acc Net GBP 13.07
Neptune US Opportunities A Acc GBP 12.78
M&G North American Value A Inc 12
Invesco Global Health Care A 11.99
Investec American A Acc Net 11.93
Baillie Gifford American A Acc 11.51
Baillie Gifford European A Acc 11.38
Threadneedle American Smaller Companies 11.23
Schroder European Smaller Companies Inc 11.22


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