Performance

US funds

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On the whole U.S. fund performance has been in retreat since May with a number of sectors struggling in July. Mortgage Backed was down for the first time since 1998 against a backdrop of rising treasury yields. On the positive side, Global Equity carried the torch, notching up 1.23% in July for an impressive 9.34% year-to-date return. However, another struggling sector was the Managed Futures index which was down 1.66% as funds were caught out by a sudden reversal in the direction of the bond market. That said, the overall performance this year remains strong with U.S. funds