duo maintain top quartile performance for more than 70% of the last 13 quarters
Fidelity's active funds and Legal & General's trackers have delivered the most consistent top quartile quarterly performance in the last three years.
The two groups each have at least four UK funds that have delivered top quartile performance in more than 70% of the last 13 quarters, according to Standard & Poor's figures.
Fidelity Moneybuilder UK Index and Moneybuilder Growth have delivered top quartile returns over 10 and 11 of the last 13 quarters respectively, while Anthony Bolton's £1.87bn Special Situations fund has achieved the same in nine of the last 13 quarters.
Fidelity Institutional Funds UK has fared even better over the last three and a quarter years, posting top quartile growth in 12 of the last 13 quarters Dave Cowdell, marketing director of Fidelity, said the group's active range used a bottom-up stockpicking style.
He added: 'We have always held the view that the only way to generate consistent returns is through a bottom-up stockpicking approach. 'Anthony Bolton is known for his value approach, but if you look at his performance, he has done very well in both growth and value stages of the market.'
Tracker funds in general have come out of the last three-and-a-quarter years well and L&G's UK Index fund has provided investors with top quartile performance in 12 of the last 13 quarters. L&G Equity Income managed the same in 10 quarters, while the group's UK Recovery and UK Stockmarket funds have delivered top quartile performance in nine of the last 13 quarters. L&G Growth Generator, which is approaching its second birthday, has also displayed impressive levels of consistency, returning top quartile numbers in six of the last seven quarters.
The most consistent fund performance, however, has been delivered by Saracen Growth, an institutional fund run from Glasgow by Saracen Fund Managers. The fund has delivered top quartile returns over each of the 12 quarters that have passed since it launched and posted growth of 71.32% over the three years to 5 May, bid to bid. With a minimum investment level of £250,000, the fund is not targeted at mainstream retail audience.
Within such a diverse universe of funds and fund mandates, not all portfolios are notable for their consistency. One of the most volatile performing funds has been Manek Growth, managed by the eponymous Jayesh Manek.
Over the past 13 quarters, the fund has delivered top quartile performance in six quarters and bottom quartile performance six times with second quartile performance in the other quarter. This has resulted in returns of -17.87% over the three years to 3 May, bid to bid.
Threadneedle and JP Morgan Fleming's UK funds have also displayed noteworthy consistency over the last 13 quarters.
Threadneedle's UK Institutional Growth and UK Overseas Earnings funds have delivered top quartile returns over 12 and 11 of the last 13 quarters, respectively, while JP Morgan Fleming's UK Active 350 and UK Equity Income funds have achieved the same in 10 quarters apiece.
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