The best and worst performing funds in August 2024

The top two funds were both Brazilian equity funds, but the rest of the table is more mixed, featuring technology, infrastructure and Japanese stocks and a bond fund. Two gold equity funds were also among the best performers as gold hit new highs in August (up about 30% on the month to a high of $2,533, according to the Royal Mint).

Trends among the worst performers are more established. Two Chinese A-share equity funds posted the biggest losses, but small- and mid-caps take seven of the bottom 10 spots. US small caps alone appear four times after being among the top performers in July.

Ben Yearsley, director at Fairview Investing, comments: “August really felt like a bizarre month, starting with the mother of all crises in Japan to see most markets through to the end of the month. There was panic in early August, and no doubt some investors probably sold, but riding through periods of volatility is often the best approach.

“Silly season is now out of the way and we can look forward to a fall of party conferences, tax hikes and the US presidential election. So nothing for the markets to worry about!”

Brazil and Top Gold List in August

BNY Mellon Brazil Equity Fund

Morningstar Medalist Rating: Neutral
Fund size: £19.4 million
Current fee: 1.06%

In August, BNY Mellon Brazil Equity rose 5.29%, while the average Brazil equity fund gained 6.08%. The fund placed in the fourth percentile for performance and outperformed the benchmark, the MSCI Brazil 10/40 index, by 1.59 percentage points. The 19.4 million fund is down 10.91% year-to-date, falling less than the average fund in its category, which is down 13.91%. Over the past three years, it has risen 2.53%, while the average fund in its category has fallen 1.75%.

HSBC Global Investment Funds – Brazil Shares

Morningstar Medalist Rating: Negative
Fund size: £98.2 million
Current fee: 2.14%

HSBC Brazil’s 129 million shares are in the same category as the BNY Mellon fund above. It rose 5.07% in August but is down 16.91% this year. Over the past three years, the fund has declined 3.56%.

WS Ruffer Gold Fund

Morningstar Medalist Rating: Gold
Fund size: £645.5 million
Current fee: 1.25%

In August, the actively managed WS Ruffer Gold fund rose 5.07%, while the average precious metals stock fund gained 2.78%. The fund placed in the fifth percentile for performance and performed roughly in line with its benchmark, the FTSE Gold Mines Index. 645.5 million fund is up 26.95% year-to-date, beating the average fund in its category, which is up 20.2%. Over the past three years, the Ruffer fund has grown 9.96%, while the average fund in its category has grown 2.03%.

Chinese and US small caps lag in August

Guinness Asset Management Funds PLC – China A Share Fund

Morningstar Medalist Rating: Silver
Fund size: £3.92 million
Current fee: 0.89%

The 4 million Guinness China A Share fund, which falls under the China – Equities share category, fell 6.85% in August. Year to date, the Guinness fund is down 19.95%. The fund was launched in March 2023.

Fisher Investments Institutional China A-Shares Equity Fund

Morningstar Medalist Rating: Gold
Fund size: $11.95 million
Current fee: 0.39%

Fisher Investments China A-Shares Equity lost 6.58% in August, falling more than the average fund in the China A-Shares category, which fell 3.98%. The 11.9 million fund has lost 12.35% year-to-date, while the average fund in its category is down 5.06%. Over the past three years, the Fisher fund is down 15.01%.

FTGF Royce US Small Cap Opportunity Fund

Morningstar Medalist Rating: Neutral
Fund size: $834.63 million
Current fee: 1.19%

The FTGF Royce US Small Cap Opportunity Fund fell 6.51% in August. Year to date, the Franklin Templeton fund is up 4.10%, underperforming by 1.8%. Over the past three years, the fund has grown by 4.25%.