Its latest trends report shows that biotech in particular has rallied especially strongly this year, up 22% in the first half.
Environmental technology, financials and gold & mining were the worst performing global sectors during 2011, all down more than 20%. The gold & mining (-16%) and resources (-10%) areas have continued to struggle in 2012.
One of the largest sectors, global property equity, has seen a resurgence in the first half of 2012, climbing 13%, after a disappointing 2011 (-8%).
Sector head, Susan Sworn, noted that global real estate indices notched up positive returns in both the first and second quarters of this year, one of the few sectors to do so.
“The resilience in the second quarter was principally propelled by developed Asia and especially China, with China actually stronger in Q2 than in Q1, unlike Europe and the US,” she said.
The review found that most managers view the outlook as very uncertain, with global property managers in particular concerned about the impact of macroeconomic issues on real estate and its specific sub-sectors.
“The key factors remain the pace of the US recovery across all sectors, and growth in China,” added Sworn.
Global equity funds, and the pharmaceutical sector, are both assessed in detail in the November edition of Portfolio Adviser, out now.