Close Beacon Investment fund, a UK smaller companies vehicle, was the worst performing fund in Octob...
Close Beacon Investment fund, a UK smaller companies vehicle, was the worst performing fund in October, according to Lipper.
The fund was down 36.73% for the month but over one year it has lost 62.32% of investors’ capital. Other vehicles in the bottom five in the month included Smith & Williamson Global Gold & Resources, Lloyd George GEM Small Companies, Skandia Global Property Securities and JPM New Europe.
The top-performing fund was Neptune Japan Opportunities which posted a gain of 18.49%. This is run by Chris Taylor who has increased cash to around 20% and hedged market risk through sales of TOPIX index futures due to his extremely negative view on the Japan market.
Sovereign debt funds were also positive performers, with M&G International Sovereign Bond, Renfield US Government Bond and Scottish Widows Overseas Fixed International Tracker fund posting returns between 10% and 15%.
The UK Gilts sector was the only group to finish October with a positive return of 0.61%.
