US small cap funds performed well in August, with the F&C US Smaller Companies fund topping the IMA's performance ratings for the month.
Buoyed by a gradual strengthening of the dollar and higher than expected GDP growth of 3.3pc in the second quarter, US small caps enjoyed a period of relatively sustained growth. Funds which have capitalised on this include the F&C fund, managed by Robert Siddles, which returned 14.86pc (bid-to-bid, according to Lipper, 31.07.08 - 28.08.08) against a sector average of 9.21pc over the same period; the second highest sector average in the IMA's performance rankings. Siddles approach over the last quarter has been to find companies which will benefit from consumers spending more on budget-p...
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