In a study of all IMA sectors, UK-focused equity and bond strategies were the most successful in maintaining top-quartile returns that were also positive in each of the past three years.
The UK All Companies Sector had the largest number of funds with top quartile performance in each discrete year, with six funds overall making the cut, but only four of those maintained positive performance each year.
Next in line, the UK Corporate Bond Sector had three funds that fit the criteria, followed by the UK Smaller Companies Sector, UK Equity Income Sector and UK High Yield Bond Sector which had one a piece.
Japan was the only other regional sector to achieve top quartile and positive returns in the three years studied.
Meanwhile, Asia Pacific ex Japan, Europe ex UK, Global and GEM had funds in the top quartile each year which without exception saw negative returns last year.
Going beyond regional sectors, managed strategies showed their worth in the three years since 2009, with three funds in the Mixed Investment 20-60% Shares Sector (formerly Cautious Managed) sticking in positive territory and achieving top quartile performance.
The Mixed Investment 40-85% Shares Sector (formerly Balanced Managed) also had one fund beat both hurdles.
But even the best in breed of all the sectors mentioned above stumbled at the height of the credit crunch in 2008, with every single top performer plunging into the red once the study was extended to a fourth year.
