10 Best and Worst Performing Funds in July

The H2O Allegro fund is the surprise top performer in July after a traumatic period, while absolute return, equity income and India funds have lagged

Annalisa Esposito 1 August, 2019 | 1:33PM
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Winners trophy

The controversial H2O Allegro fund was the top performing fund in July despite being downgraded by Morningstar analysts in June over liquidity concerns and its links to German entrepreneur Lars Windhorst.

The fund suffered millions of euros of outflows after Morningstar analyst Mara Dobrescu downgraded its rating from Bronze to Neutral. The fund, which invests in a diverse portfolio of bonds, sparked concerns because of its high exposure to illiquid bonds. Dobrescu said that while it had produced stellar annualised returns of 16.5% over the past eight years, this had come at “a higher risk than investors could have expected”. The fund then began selling off illiquid assets in a bid to address investor concerns. French owner Natixis also cut initial charges for H2O funds and priced them at a discount to encourage investors to return.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
ASI UK Income Unconstrained Eq P1 Acc107.20 GBP-0.64Rating
BlackRock European Absolute Alpha D Acc166.22 GBP-1.00
BlackRock Gold and General D Acc1,183.21 GBP-3.10Rating
JOHCM UK Equity Income X GBP Inc0.97 GBP-0.21Rating
JPM India C (acc) USD47.45 USD0.00Rating
JPM US Equity Income A Net Acc2.51 GBP1.31Rating
Schroder US Mid Cap Z Acc1.77 GBP0.46Rating

About Author

Annalisa Esposito  is a data journalist for Morningstar.co.uk

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