The start of 2013 has brought some New Year cheer to equity investors, with the FTSE 100 recording its best January since 1989.
But which managers have been able to capture those returns and kick-start their performance record for the year?
While long-term performance will always be the lifeblood of the fund management industry, those featured below will at least have something of a feelgood factor from their start to 2013.
Of the ten best-performing vehicles, those funds investing in developed markets US, Europe and Japan feature prominently, with Henderson's euro hedged version of the Global Care Growth fund topping the charts. Global Care Growth has produced a return of 15.22% to 30 January, according to Morningstar.
Which funds have started strong in 2013?
Manager Nick Anderson selects equities that are considered to enhance the environment and life of the community and has over 70% exposed to the main developed markets US, UK and Japan, contributing to the large jump in performance in January.
Japanese equities have also started the year well as policymakers unveil further fiscal and monetary stimulus and introduce more aggressive inflation targeting measures.
Legg Mason Japan Equity has returned 14.72% throughout the month, with manager Hideo Shiozumi attributing the £61m fund's recent strong performance to its overweight in small- and mid-cap healthcare and technology stocks, which make up over 70% of the portfolio.
The early leaders also feature four funds exposed to North America, with the £2m Neptune US Max Alpha coming in as the third best performing overall, up 14.71%. Run by the group's head of US equities Felix Wintle, the fund is a more concentrated version of his £381m US Opportunities fund, also in the top ten.
Other successful North American funds include the £41m Legg Mason Capital Management Opportunities fund and the £38m JPM US Smaller Companies fund.
European funds have also outperformed as the rally that began in earnest last year continues into 2013. Invesco Perpetual's £29m European Opportunities fund, managed by Adrian Bignell, posted an impressive 14.50% return while its £121m European Smaller Companies fund, also run by Bignell, was up 12.83%.
Scottish Widows' European Strategic fund was another portfolio producing stellar returns, while the £180m Allianz Global Agricultural Trends fund also made the top ten.
A bad start to the year for fixed income means bond funds have struggled to keep up with their equity peers, but many have still had a strong start to 2013.
The top performing fund in the £ Strategic Bond sector, Richard Woolnough's M&G Optimal Income, returned 7% in January, while the £ Corporate Bond sector's best performer, PIMCO's GIS Global Investment Grade Credit Euro Hedged fund, returned 5.38%.
The UK Gilts sector, however, has had a rough time. The sector is home to almost all of the ten worst performers on the month, with none of its constituents posting a positive return. Such performance is unsurprising given UK gilts are set for their worst month since 2009.
Gold's continued struggles, meanwhile, meant funds focusing on the precious metal also ranked among the worst performers at this very early stage.
Topping the charts
|Henderson Global Care Growth EUR Hdg||Global||15.22|
|Legg Mason Japan Equity||Japan||14.72|
|Neptune US Max Alpha||North America||14.71|
|IP European Opportunities||Europe ex UK||14.50|
|LM Capital Management Opp||North America||14.04|
|Allianz Global Agricultural Trends||Specialist||13.56|
|Scottish Widows HIFML European Strat||Europe ex UK||13.14|
|Neptune US Opportunities||North America||13.06|
|IP European Small Companies||European Smaller Companies||12.83|
|JPM US Smaller Companies||North American Smaller Companies||12.35|
|WAY Charteris Gold Portfolio||Specialist||-5.36|
|UBS Long-Dated Fixed Int UK Plus||£ Strat Bond||-3.86|
|Barings UK Long Dated Gilt||UK Gilts||-3.78|
|Henderson Long Dated Gilt||UK Gilts||-3.74|
|Schroder Inst Long Dated Sterling||UK Gilts||-3.67|
|Vanguard UK Long Dur Gilt Index||UK Gilts||-3.62|
|Newton Long Gilt Instl||UK Gilts||-3.57|
|AXA Sterling Long Gilt||UK Gilts||-3.53|
|BlackRock Gold & General||Specialist||-3.11|
|AXA Sterling Long Bond||£ Strat Bond||-3.00|
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