Investment research specialists FundCalibre has published its list of top performing ‘Elite Funds’ with gold and international funds leading the way.
In terms of top performing FundCalibre ‘Elite Funds’ in 2016, it was perhaps no surprise that gold featured high on the list with the BlackRock Gold & General fund finishing first, with, according to Fund Calibre figures, see table below, showing a return of 58.85%.
A spokesperson for FundCalibre said: “This is hardly surprising given gold equities’ stellar start to the year off the back of a rising price in the commodity itself, as well as global uncertainty and a rush for ‘safe haven assets’.”
Close behind in second spot was another specialist fund, the Aberdeen Latin American Equity fund, which achieved returns of 56.40%. Emerging markets generally had a strong year prior to Trump’s election, bouncing back from a pretty terrible 2015. The Lazard Emerging Markets and M&G Global Emerging Markets also make it into the top ten for this year.
“This year has seen many a surprise—probably far more than any of us would’ve expected—as Brexit, Trump’s US presidency and Italy’s failed referendum all went in the ‘wrong’ direction to how the bookies were betting,” added the spokesperson.
US post-presidential rally
“All in all though, global markets seemed to shake off the shocks. We had a post-presidential election rally in US stock markets, the FTSE 100 broke record highs after the Brexit vote and Europe’s equity and bond markets have been propped up throughout the year by the European Central Bank’s ongoing intervention,” the spokesperson said.
Many fund managers are concerned how emerging markets will fare under Trump and his “make America great again” pursuits. His first 100 days in office in the new year may start to give fund managers some detail about his plans, but for now many are playing the waiting game, FundCalibre said.
Meanwhile the newly ‘Elite Rated’ Hermes US SMID Equity fund delivered a 43.95% return. “Comparing all of the top performers to the FTSE All Share and MSCI World indices (in the table below) shows just how well these funds were actively managed in one of the most turbulent years for markets since the global financial crisis of 2007,” the spokesperson added.
*FE Analytics, Elite Funds, total returns in GBP, 31/12/2015–21/12/2016