Five worst performing funds in April
By Kristen McGachey, 3 May 18
Mark Carney cast doubt on a May rate rise, UK GDP grew at its most sluggish pace in over five years, US treasuries hit 3% and Russia faced US sanctions. So which funds had the toughest time navigating April? Our sister publication Portfolio Adviser examines performance figures from FE.
Coming in at number four is the Invesco Perpetual Emerging Equity fund, which delivered negative returns of -3.41%.
Launched in 2007, the fund is comparatively tiny, with just £44.5m ($60.6m, €50.5m) in assets under management.
But it has beaten the IA Specialist sector until recently, returning 48% over three years, double the level of the sector average.
While April was a picture of calm for developed markets like the UK, which began the year with a shaky start, Eastern European markets felt the full force of US and European sanctions against Russia.
The IP Emerging Europe fund, run by Nicholas Mason, has over 64.2% of its assets in Russian equities, followed by Polish equities (12.2%) and Hungarian equities (4.1%).
Tags: Baillie Gifford | City Financial | Invesco | Legg Mason | Neptune
