Advisers stick with sterling despite performance hit

US and Japanese funds have particularly struggled, with 90% of US and Japanese funds underperforming their respective benchmarks indices this year, as UK managers' struggle to deliver on the soaring sterling. With the pound up almost 13% against the dollar and nearly 20% higher on the yen so far this year, just seven out of 76 UK-domiciled funds in sterling terms are outperforming the US benchmark S&P 500 in dollar terms this year. Meanwhile, just four funds from 56 are beating Japan's Topix index in yen. Both indices are returning about 4.2% year-to-date. Sterling hit a year-high of 1.17...