Is the UK market a buying opportunity over the longterm?
Richard Colwell, manager of Threadneedle UK Equity Income, talks us through opportunities in the UK...
As the year draws to a close, FundCalibre has revealed the top 20 most viewed funds and trusts on its website, with Baillie Gifford Global Discovery proving the most popular in 2019*.
The fund, which is run by Douglas Brodie and consists of what he believes to be the most innovative and fast-growing smaller companies in the world, drew the highest number of page views on the fund research website.
AXA Framlington Global Technology, run by Jeremy Gleeson, was in second spot. 2019 has been another good year for the technology sector: it has outperformed the wider global stock market by 17%** over the past 12 months.
In third place was City of London Investment Trust. Managed by Job Curtis for almost 30 years, the trust celebrated its 53rd year for raising dividends in 2019.
Perhaps unsurprisingly, Global, Global Equity Income and UK Equity Income funds and trusts dominated the list this year, as investors sought to diversify their portfolios in the face of continued Brexit and political uncertainty at home, and many others were also searching for income in a low-interest world.
12 out of the top 20 most viewed funds and trusts are invested outside of the UK. 10 were global in nature, while Europe and Japan also made an appearance.
12 out of the top 20 funds were those investing in income-producing assets. The top ten was dominated by Global Equity Income funds, while UK Equity Income and Bond funds made a stronger appearance in the top 20.
Every single fund or trust in the top 20 was either entirely, or predominantly, invested in developed markets. This suggests that emerging markets are still very much out of favour.
|Rank||Name of Fund/Trust|
|1||Baillie Gifford Global Discovery|
|2||AXA Framlington Global Technology|
|3||City of London Investment Trust|
|4||TB Evenlode Global Income|
|5||Artemis Global Income|
|6||Scottish Mortgage Investment Trust|
|7||Fidelity Global Dividend|
|8||Rathbone Global Opportunities|
|11||Invesco Monthly Income Plus|
|12||Threadneedle UK Equity Income|
|13||Man GLG UK Income|
|14||Artemis Monthly Distribution|
|15||Baillie Gifford Strategic Bond|
|16||Liontrust Special Situations|
|17||BMO Global Smaller Companies|
|18||TB Evenlode Income|
|19||Baillie Gifford Shin Nippon|
|20||First State Global Listed Infrastructure|
*Source: FundCalibre Analytics, 1 January 2019 to 21 December 2019
**Source: FE Analytics, FTSE All World index vs FTSE All World Technology index total returns in sterling, 1 January 2019 to 23 December 2019