What to buy, what to sell: Global growth funds and discounted investment trusts

Global growth funds have been hit hard by rocky markets - find out which fared worst. And take a look at the investment trusts trading at large discounts.

Global growth funds hit hard by rocky markets

Global growth funds have been hit hard by falling equity markets in the last month and none more so than those with large holdings in commodities and emerging markets. It was investment in these areas that propelled the funds' stellar growth in the last year, says Citywire.co.uk, but since the start of May, "only one of the top ten managers in the preceding year has avoided being at the helm of a fund that underperformed its peer group". That fund was New Star Tactical Portfolio Fund, managed by Citywire A-rated Mark Harris, which produced a return of 3.5% in May against 4.2% for the average global-growth fund in that month.

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