The UK equity funds beating the US stock market
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Historically, the US stock market tends to rally in the immediate aftermath of presidential election results. The market this year did not break the trend, with five of the top ten performing Elite Funds last month US equity funds. Legg Mason ClearBridge US Aggressive Growth came in first returning 6.84%. All five comfortably beat the sector average of 2.14% and the S&P 500 index (2.03%). Trump’s win led to a stronger dollar and consequently, a weaker yen, which helped Neptune Japan Opportunities interrupt the pattern in second place, with gains of 5.97%.
When it came to the best performing UK equities Elite Funds, smaller companies continued their surprise strong run since the Brexit vote, making up five of the top ten. Unicorn UK Smaller Companies came first, with Marlborough Special Situations coming in second and Wood Street Microcap the third best performing last month.
*Source: FE Analytics, Total returns in sterling, 1 Nov 2016 – 30 Nov 2016