Fund of funds performance data

Moving into the top spot in the Balanced Managed sector over one year is the M&G Managed fund, run by David Jane. The 690m fund returned 16.2% in the year to May 23 and took over first place from the Aberdeen Managed Portfolio, which was merged into the group\'s Managed Balanced fund earlier this month.

The M&G Managed fund is fettered and has the M&G Pan European fund, Income fund and UK Growth fund as its largest holdings. The fund also climbed from 17th place last month to 12th this month over three years, with a return of 10.51%, according to Standard & Poor’s.

One of the biggest movers over the year to May 23 is the Threadneedle Global Equity and Bond fund. Ranked 35th in the sector over the 12 months to April 18, the fund jumped to 23rd place this month, returning 12.1% compared with a sector average of 12.4%, according to S&P. The top holdings in the 502m fettered fund, which is managed by Sarah Arkle, are the Threadneedle UK Growth, UK Institutional Growth and UK Growth & Income funds.

As was the case last month, the 17m CF Miton Strategic Portfolio continues to be ranked bottom in the sector over one year, with a return of 8.53%, but top in the sector over three years. The fund returned 22.33% in the three years to May 23, compared with a sector average of 8.4%.

The top eight funds in the sector over three years also remain unchanged since the last time we examined the Balanced Managed sector on April 25, as do the bottom three funds. The 5m Sackville Balanced Portfolio and the 270m L&G Growth Portfolio are also the only funds in the sector to deliver negative returns over the three years to May 23.

Average returns in the sector over one year were up slightly this month to 12.4% compared with 9.13% in the year to April 18. Over three years, the sector returned 8.4% on average, down from 10.4% last month. Shows percentage returns, volatility and fund size for funds of funds in the IMA Balanced Managed unit trust/Oeic sector, bid-bid, net income reinvested, over one and three years to May 23, 2005.Source: Standard & Poor’s