The UK was the most unloved market among fund managers during the post-referendum period. From 23 June 2016 to the end of September 2020 (just before the vaccine rally), the FTSE All Share fell 3.5% in dollar terms, with the MSCI AC World Index up 50.5%, thanks in part to the pound falling 12.9% in USD. Even as late as April this year, fund managers were underweight the FTSE All Share, according to the BofA ML Fund Managers Survey – managers were around 1.5 standard deviations below their histor ....
23 Jun 2021
Time to back Britain?
BlackRock Throgmorton Trust PLC GBP (THRG:LON), 581 | Schroder British Opportunities Trust Plc (SBO:LON), 77.5 | Edinburgh Investment Trust PLC (EDIN:LON), 694 | Downing Strategic Micro-Cap Investment Trust PLC GBP (DSM:LON), 0 | Henderson Opportunities Trust PLC (HOT:LON), 0 | JPMorgan UK Small Cap Growth & Income plc GBP (JUGI:LON), 309
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Time to back Britain?
BlackRock Throgmorton Trust PLC GBP (THRG:LON), 581 | Schroder British Opportunities Trust Plc (SBO:LON), 77.5 | Edinburgh Investment Trust PLC (EDIN:LON), 694 | Downing Strategic Micro-Cap Investment Trust PLC GBP (DSM:LON), 0 | Henderson Opportunities Trust PLC (HOT:LON), 0 | JPMorgan UK Small Cap Growth & Income plc GBP (JUGI:LON), 309
- Published:
23 Jun 2021 -
Author:
Thomas McMahon, CFA -
Pages:
5
The UK was the most unloved market among fund managers during the post-referendum period. From 23 June 2016 to the end of September 2020 (just before the vaccine rally), the FTSE All Share fell 3.5% in dollar terms, with the MSCI AC World Index up 50.5%, thanks in part to the pound falling 12.9% in USD. Even as late as April this year, fund managers were underweight the FTSE All Share, according to the BofA ML Fund Managers Survey – managers were around 1.5 standard deviations below their histor ....