Commodity funds suffer in July as biotech vehicles rally, says Lipper

Two biotech funds were amongst the top five best-performing vehicles in July, according to Lipper.

Axa Framlington Biotech was the top-performing fund with a return of 14% over the calendar month whilst Franklin Biotechnology was second with 12.58%. This compares to the average fund out of 1,915 vehicles posting a loss of -2.08%.

Dr Richard Ramyar, Lipper's head of research, said: “July’s top performers were driven by a strong biotech theme. Biotech equities have generated very respectable returns during the testing market environment of the past year and these funds reflect that trend.”

Cheviot Managed, First Indian Subcontinent fund and Investec Emerging Market Debt were also in the top five funds.

In a reversal of the previous months’ fortunes, funds invested in commodities suffered large losses.

Oceanic Australian Natural Resources was the worst-performing fund in July with returns of -17.85%, followed by JPM Natural Resources and Junior Oils.

Two of Rensburg’s small-cap focused funds were also in the bottom five, UK Micro Cap Growth and UK Smaller Companies.

Categories: Infrastructure | Commodities | Equities | Investment | UK

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