Offshore funds investing in continental European equities have demonstrated greatly improved perform...
Offshore funds investing in continental European equities have demonstrated greatly improved performance recently.
According to a recent report from Standard & Poor's Micropal, after falling a disappointing 3.6% over 12 months in dollar terms the 43 funds tracked by Micropal generated a positive 2.3% during the six months to 14 June.
The best performance came from the $19m Henderson HF European fund with a return of 18.5%. It has been managed for the last two years by John Botham.
He said: "The fund performed well this year because it was overweight cyclicals stocks including oil stocks. The portfolio also benefited from big holdings in telecommunication stocks which we see as a strong secular growth area.
"We think this underperformance will be reversed as the euro strengthens later in the year and the prospects for corporate earnings improve in line with stronger European economies.
Partner Insight: Continuing the Architas education series for clients.
What made financial headlines over the weekend?
290,000 already affected
Putting the tech into protection
Square Mile’s series of informal interviews