In August 2025, WS Ruffer Gold was the best-performing Morningstar-rated fund, with a return above 20%. BlackRock Global Unconstrained Equity was the worst-performing fund. Precious metals equities, China A-shares equities, and Brazil equities had the strongest average returns, while Korea equities, India equities, and long-term EUR bonds had the biggest average losses.

WS Ruffer Gold Fund, with a Morningstar Medalist Rating of Silver, rose 20.33% in August, surpassing the average equity precious metals fund gain of 15.37%. The fund has seen a year-to-date rise of 70.11% and a five-year increase of 10.17%.SVS Baker Steel Gold & Precious Metals saw a 15% growth in August and a year-to-date increase of 78%.

In contrast, BlackRock Global Unconstrained Equity Fund (UK) lost 5.06% in August, underperforming the average fund in the global large-cap growth equity category. Invesco India Equity Fund fell 4.96%, while Artisan US Focus Fund dropped 4.81%. Wellington Management Funds (Ireland) PLC — India Focus Equity Fund and Morgan Stanley Investment Funds — US Advantage Fund also experienced losses.

Investors are advised to focus on long-term returns across market cycles, but short-term returns can reveal strategy biases. The funds mentioned were reviewed by Morningstar editors, and the authors do not own shares in any securities mentioned.

Read more at Morningstar: The Best-Performing UK Funds in August 2025