Fund of funds performance data

This pushed the £66.86m Fitzwilliam Multi Manager fund off the top spot and into third place over one year with a return of 15.50% compared with 16.33% last month. It also fell from second to third place over three years with a 23.62% return. The £715.04m M&G Managed fund retained second place, but its one-year return rose from 14.80% to 16.13%.

The top holdings in the Aberdeen Managed Portfolio are dominated by in-house funds. The largest three funds in the portfolio, for example, are Aberdeen Progressive Growth (7.8%), Aberdeen International High Yield Bond (5.6%) and Aberdeen International Fixed Interest (5.5%). Credit Suisse Income is the largest non-Aberdeen fund, coming just above Aberdeen Asia Pacific.

The fund is managed by Michael Turner who is head of global strategy and asset allocation at Aberdeen and joined the asset manager as part of its acquisition of Edinburgh Fund Managers. He took over management of the Aberdeen Managed Portfolio fund in February from Mark Daniels.

All 40 fund of funds in the sector posted positive returns over one year, with the average being 12%, which was down from 12.23% last month. SW Progressive Portfolio climbed off bottom place even though its return fell from 8.65% to 7.65%. Sackville Balanced Portfolio fell from 34th place to the bottom as its return declined from 9.83% to 7.14%. The £12.67m CF Miton Strategic Portfolio fund has maintained its top place over three years in the Balanced Managed sector as its return has increased from 28.59% last month to 29.24%. The £4.08m CF London York bounced back to second place after dropping to third the previous month.

The sector average over three years fell from 11.96% to 11.20% and the number of funds with negative returns climbed from one to three – L&G Growth portfolio (-1.35%), Sackville Balanced (-1.18%) and SW Progressive Portfolio (-0.54%).Percentage returns, volatility and fund size for funds of funds in the IMA Balanced Managed sector, bid-bid, net income reinvested Source: Standard & Poor’s