Major return disparity across US peer group

As returns vary widely on different US funds, managers feel oil prices and the fluctuating dollar are key factors

The inconsistency of the US equity market over the past three years can be seen by the disparity of fund returns, with the best showing gains of over 30% while others have struggled to make it into positive territory. Overall, the top-performing portfolio is Aled Smith's M&G American, which rose 39.22% bid to bid over the 36-month period to the end of October. By contrast, Gil Knight's Gartmore US Opportunities fund was up just 2.92% over the same period. Second in the North American sector, with returns of 34.16%, is Franklin Mutual Shares, a UK Oeic mirror of a 60-year-old US fund, whi...