Markets around the world rallied sharply in the first quarter on hopes the eurozone debt crisis had reached a nadir, while oil shot up sharply amid uncertainties in the Middle East. A number of UK-domiciled funds stood out against their peers in Q1 this year, but which ones did you own?
With oil surging over 10% to climb above $120 per barrel during the first three months of the year, it is unsurprising an energy fund topped the list.
The £52m Junior Oils trust, managed by Angelos Damaskos (pictured), delivered 35.04% in the first quarter.
However, it was not just the energy fund that outperformed, with five of the funds in the top ten coming from the UK Smaller Companies sector, including Aberforth's UK Small Companies fund and Fidelity UK Smaller Companies.
The 10 funds you should have owned in Q1
Below is the top ten best performing funds over Q1 (to end of March), according to data compiled by Lipper for Hargreaves Lansdown.
|Top ten performing funds|| % return
|Junior Oils Trust||35.05|
|HSBC GIF Indian Equity||25.43|
|Standard Life Inv UK Equity Unconstrained||23.08|
|MFM Techinvest Technology||21.88|
|BNY Mellon Vietnam India & China||21.2|
|Aberforth UK Small Companies||21.05|
|Fidelity UK Smaller Companies||20.98|
|FF & P Small Cap UK Equity||20.87|
|M&G Smaller Companies||20.8|
|CF JM Finn UK Smaller Companies||20.77|
In terms of sectors, the IMA Technology & Telecoms fared the best, returning an average of 14.7% over the past year. European Smaller Companies also performed strongly, with the average fund delivering 14.62%.
|Top ten performing sectors||Average % return|
|IMA Technology & Telecoms||14.7|
|IMA European Smaller Companies||14.62|
|IMA UK Smaller Companies||14.12|
|IMA Europe ex UK||10.53|
|IMA Global Emerging Markets||10.45|
|IMA Europe inc UK||10.12|
|IMA Asia Pacific Inc Japan||9.54|
|IMA Asia Pacific ex Japan||9.42|
|IMA UK All Companies||8.85|
|IMA North America||8.81|
All data for the three months to end March
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