- by Suki Mann
Time now to look at how the largest and top performing funds fared in the quarter/year to September 2017.
The performance of the reasonably sized funds again has the Nordea 1 and Schroder ISF Euro Credit funds out on top returning 8% and 7%, respectively, in the third quarter of 2017 to end September. That is down versus the 3 months to end of August where the Nordea fund returned 11.4%, while it is an uptick for Schroders from 6% in the same period.
For the largest funds, again the Schroders ISF Euro Corp fund returned a solid and improved 5.83% (AUM up a little again to €8.64bn) in the 3 months to end August while it also outperforms in the year to end July with 2.97% of performance.
The MS INVF Euro Corp fund also puts up a good effort (4.86%/on an increased AUM to €4.43bn), as does the Bluebay IG fund (5.74%/AUM unchanged at €3.1bn).
>>See the full IG Euro Performance tables<<
In euro HY, the two funds which consistently stick out are the €1,096m Schroders ISF fund and the Evli European HY fund (AUM €879m). They have reasonable size and consistent performance, returning an improved 7.9% and 6.43%, respectively, in the three months to September and almost 9% in the year to end September.
The €3.8bn Fidelity and €2.8bn UBS European HY funds (AUM unchanged) have also generated solid performances (over 7% and 6%, respectively) given their size. On the other hand, the €3.8bn Pictet Euro Short-term fund returned just 2.6% in the 3 months and again 2.6% in the year, both to end September.
>>See the full HY Euro Performance tables<<
In sterling, the Gilt market sell-off in September impacted performance – and it was clear in all the returns generated.
The high grade market performance had the £250m Liontrust Monthly Income Bond Z fund drop 0.38% in the quarter to end September (versus +4.39% in the 3 months to end August), for example. On the other hand, the TwentyFour Corporate Bond I fund (AUM £449m) has delivered a perky 6.5%, in the 3 months to end August – and 3.10% in the quarter to end September.
Rathbone’s Ethical Bond Acc L fund delivered on 5.6% in the quarter to end September (but was 8% in the 3 months prior to that in August).
For the bigger funds, the IP Corporate Bond Acc is a notable out-performer with 1.75% in the 3 months to September and 1.9% in the year to end August.
On the other hand, the L&G High Income (AUM £1.4bn) delivered a massive 11.35% and 9.8% in the 3 month and 12 month periods to end September, respectively, and is the notable out-performer in the high yield space.
>>See the full Sterling IG & Sterling HY Performance tables<<