US equity funds led performance in the open-ended market in 2024, while specialist investments in energy, Brazil and Latin America haemorrhaged returns.
Analysing the total return across the investment fund universe for the past 12 months, the Alger Focus Equity fund topped the year with 56.3% delivered, according to data from FE fundinfo. The strategy, which invests completely in North American equities, has 49 holdings, with the largest holdings being Nvidia (11.6%), Microsoft (10.2%), and Amazon (5.6%), all part of the Magnificent Seven. "Looking at markets now and it was a good year all round for equities," said Ben Yearsley, director at Fairview Investing. "Clearly AI and tech were the key drivers but there were solid returns in ...
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