Few US equity managers in positive territory YTD

Fortunes of IW Fund Manager of the Year nominees are mixed in a sector proving a tough place to make money in the current downturn

US equities have proved a tough place to make money during the slowdown, with just a single fund registering gains in the 12 months to 1 June. Gordon Grender's Gam North American Growth produced 0.01% over the year, buoyed by a cash position of up to 20% and, more recently, exposure to rallying low-end retailers. Looking at US portfolios shortlisted in Investment Week's 2008 Fund Manager of the Year awards, their subsequent fortunes have been mixed. Last year's winner Martin Currie North America struggled in the second half of 2008 after the market flipped in July and major volatil...