At just over 1m the fund was deemed too small to continue, according to BRI Asset Management. As a consequence, the bottom two funds in both tables, although unchanged, moved up a place in the rankings.Over one year the Prudential Growth and M&G Managed Growth funds have swapped pole position again, with the Prudential fund slightly outperforming M&G’s. Both are fettered funds of funds investing in the M&G range and have almost identical holdings. The top three holdings of both portfolios at March 31 were M&G’s Global Basics, Recovery and International Growth funds. John Chatfeild Roberts’ Jupiter Merlin Growth fund continues to climb up the table, ousting Investec’s Managed Growth fund (profiled opposite) from third place. The biggest shift in position is an upward move of 17 places by the Margetts Venture Strategy fund, rising to fifth place. The portfolio also jumped up seven places in the three-year rankings. Managed by Toby Ricketts, the 5m fund aims to achieve long-term capital growth by investing in a diversified range of dynamic economies, specifically those of Asia, Latin America and other emerging markets. The fund has recently taken selective profits from Far East, America and technology funds and as a result had more than 17% of the portfolio in cash at May 13. The top three holdings are all in emerging market funds, managed by Aberdeen (10.2%), Baillie Gifford (10.4%) and First State (9.7%). Emerging market exposure totals 38% of the portfolio. The biggest faller was Richard Peirson’s Framlington Managed Portfolio, which dropped 12 places to 21st. The fettered portfolio’s top three holdings at April 30 were Framlington’s Equity Income, Blue Chip and UK Growth funds. The drop in performance is not significant, though, with only a 2.5% absolute difference in returns between the 10th and 21st ranked funds. Three-year performance has not seen as many changes, with the top eight funds unaltered since last time. Other than the Margetts fund, no portfolio moved more than three places in the table. The threesome of Jupiter, M&G and Prudential funds again occupy the top positions, with their rankings a mirror image of the 12-month table. Chatfeild Roberts’ fund returned 23.25% over three years, comfortably beating its nearest rival by more than 3.5%. With the BRI fund dropping out of the table, only two funds fell over three years: Ian Brady’s Invesco Perpetual World Growth Portfolio (16th from 13th) and F&C Multi Manager Investment Trust, managed by Julie Dent (20th from 19th). F&C’s fund of investment trusts has the highest volatility of all funds over both time periods, and recent relatively poor performance puts it bottom over 12 months.