From Morningstar: 2024-04-04 07:32:00

Global markets reached record highs in the first quarter of 2024, with The Magnificent Seven leading the way. Almost 90% of Morningstar-rated funds for UK investors had positive returns, with US large-cap growth and blend categories performing the strongest. The best-performing funds included two GQG Partners funds, while gold equities soared in March.

While global markets saw record highs, around 400 funds experienced losses in the first quarter of 2024. The worst performer was WS Amati Strategic Metals, with a 14% loss. Gold equities were the best performers in March, with ES Baker Steel Gold & Precious Metals leading the way. Ben Yearsley noted the rise in gold prices, causing gold equities to finally perform well.

In March, gold equities shined as the best performing funds, while the majority of funds experienced growth. Gold equities and natural resources funds dominated the top spots, with ES Baker Steel Gold & Precious Metals leading the pack. Trends are still hard to find, with the bottom list showing a mix of sectors like Chinese equities, biotechnology, and technology. Fund managers are feeling optimistic about the future of the market.



Read more at Morningstar: Best and Worst Performing Funds in Q1