Worst performing funds of Q1
By Sonia Rach, 4 Apr 18
Markets stumbled in 1Q18 after a positive run in 2017. While economic data was largely positive, Italy delivered an inconclusive election result, a new US Fed chair was appointed, and Donald Trump took the first steps towards a trade war.
The second worst performing fund was the Blackrock Gold and General fund which generated returns of -14.8%, compared to -4.1% for the IA Specialist benchmark.
The fund, which launched in 1988 and is co-managed by Evy Hambro and Tom Holl, has £946.9m under management.
AJ Bell’s head of active portfolios Ryan Hughes said: “There has been a clear disconnect between the performance of gold related equities and the gold price over the recent months which has seen gold funds provide little or no protection to the volatility seen in broad equity markets.
“Should equity volatility continue, I would expect to see some reaction in the gold price and this could see a pick up in the performance of these funds.”
Hughes said that AJ Bell have recently added Black Rock Gold & General to its list of preferred actively managed funds and view it as a good option for investors who want exposure to this part of the market.
Tags: Blackrock | Investment Strategy | Jupiter | Smith & Williamson
