- by Suki Mann
Taking a look at how the largest and top performing funds fared in the quarter/year to August 2017, and in the Investment Grade space it was a case of the usual suspects coming out on top.
On performance and reasonable size (of funds) it’s the Nordea 1 and Schroder ISF Euro Credit Convct funds which catch the eye – returning 11.4% and almost 6%, respectively.
For the largest funds, again the Schroders ISF Euro Corp fund returned a solid, albeit lower than previously, 4.76% (AUM up a little to €8.5bn) in the 3 months to end August while it also outperforms in the year to end July with 2.9% of performance.
The MS INVF Euro Corp fund also puts up a good effort (3.79%/AUM €3.9bn), as does the Bluebay IG fund (3.65%/AUM €3.1bn).
>>See the full IG Euro Performance tables<<
In euro HY, the two funds which consistently stick out are the €1,019m Schroders ISF fund and the Evli European HY fund (AUM €852m). They have reasonable size and consistent performance, albeit returning a reduced 5% and 4%, respectively, in the three months to August and almost 8% in the year to end July.
The €3.7bn Fidelity and €2.8bn UBS European HY funds (AUM unchanged) have also generated solid performances (over 4%) given their size. On the other hand, the €3.8bn Pictet euro short term fund returned just 1.8% in the 3 months and 2.2% in the year, both to end August.
Once again, small is beautiful with 20%+ returns garnered for the little ones while Schroders and Evli come out in the top 20 there, too.
>>See the full HY Euro Performance tables<<
In sterling, the high grade market performance has the £242m Liontrust Monthly Income Bond Z fund drop back into fourth, delivering a worthy 4.39% although the TwentyFour Corporate Bond I fund (AUM £443m) has delivered a perky 6.5%, both in the 3 months to end August.
Rathbone’s Ethical funds have delivered on average 8% in the quarter to end August.
For the bigger funds, the IP Corporate Bond Acc is a notable out-performer with 4% in the 3 months to August and 2.3% in the year to end August.
L&G High Income (AUM £1.4bn) has delivered 6.14% and 9.54% in the 3 month and 12 month to end August, respectively, and is the notable outperformer in the high yield space.
>>See the full Sterling IG and Sterling HY Performance tables<<