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Top performing funds and sectors

Explore the top and bottom ten Investment Association (IA) funds and sectors over the past month.

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    About our fund commentary

    Market commentary - May 2024
    By Rob Morgan
    Spokesperson & Chief Analyst
    03 Jun 2024 | 6 min read
    Market commentary - April 2024
    By Rob Morgan
    Spokesperson & Chief Analyst
    02 May 2024 | 11 min read
    Market commentary - March 2024
    By Rob Morgan
    Spokesperson & Chief Analyst
    03 Apr 2024 | 8 min read
    Market commentary - February 2024
    By Rob Morgan
    Spokesperson & Chief Analyst
    04 Mar 2024 | 8 min read

    Top performing funds 

    It was a strong month for UK Smaller Companies as improved sentiment towards the UK and a pickup in merger and acquisition activity brought the area into focus.

    Bottom performing funds 

    Weakness in Japanese smaller companies and developing markets was driven by an aversion to emerging growth areas amid waning expectations for interest rate cuts. Energy and Latin American markets also fell back as the US dollar strengthened and energy prices were subdued.

    Top performing sectors 

    The UK FTSE 100 set several new highs during the month and stayed convincingly above the 8,000 mark. Increased merger and acquisition activity has helped highlight the value to be found in the UK market, especially at the smaller end.

    Bottom performing sectors 

    Interest rate sensitive areas fell back as investors fretted that rate cuts will be later and fewer. As well as weakness for bonds and gilts, parts of the share markets faced a headwind, especially those affected by US dollar strength.

    The value of investments can fall as well as rise. Investors may get back less than invested. Past performance is not a reliable indicator of future returns. Figures are shown on a % total return basis, bid to bid price with net income reinvested; Source: FE Analytics, data for May 2024: 30/04/2024 to 31/05/2024. Onshore and retail open-ended funds only.

    *There are several thousand funds on sale in the UK. The Investment Association divides these into about 45 sectors, broad groupings that help investors and advisers compare funds of similar types before looking in detail at individual funds.

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