According to the asset manager’s latest FundWatch survey, 33 of the IMA sectors delivered positive return between July and the end of September. This contrasts strongly with the second quarter of 2012, when 28 sectors posted a loss.
Rob Burdett, co-head of Thames River Multi-Capital, said: “The increase in the number of IMA sectors that made positive returns for the quarter is a positive sign for markets as well as investors, with decent returns over the year so far now showing through.”
IMA Europe Ex-UK was shown to the third-quarter’s best performer over the three-month period, increasing by 9.3%. IMA UK Smaller Companies followed with a 8.4% gain.
Burdett added: “The performance of the equity sectors is of particular note, given the recent data released from the IMA, which highlighted investor preference for equity based products over fixed income for the first time in a year.”
Robert Lyon and Ani Markova’s Smith & Williamson Global Gold & Resources Fund was the strongest individual performer of the quarter, after benefitting from the rise in gold stocks.
However, the survey found IMA Japan was the worst performing sector falling 4% over the three months. Paul Chesson’s Invesco Perpetual Japan Fund was the worst performing individual fund, dropping 10.9% after it “fell victim to the wrong style in the wrong market”.
