IA UK Gilt funds were the only fund sector to deliver positive returns in a "horror show" March, which saw the ongoing impact of the coronavirus pandemic decimate the performance of most Investment Association-registered vehicles.
The sector delivered a 1.6% return for the month, but this did not translate to strong performance for the Sterling Corporate Bond sector, which was rattled as investment grade spreads widened as the risk of defaults increased, FE fundinfo data shows. Similarly, the High Yield sector saw a decline of over 14% for the month, while the IA Global Bond sector was helped by the fall in sterling and saw its decline limited to 3.6%. Elsewhere, the 13.4% and 15.1% monthly declines for the FTSE 100 and FTSE All-Share indices respectively were bad news for UK equity funds, with the UK Smaller C...
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