Henderson’s China fund is biggest riser

A GAIN of more than 30 per cent made Henderson’s China vehicle the top equity fund performer in October, according to new research.

The 32.42 per cent monthly rise put the $175m (£110m) Henderson HF China fund, run by Caroline Maurer and Andrew Mattock, ahead of Legg Mason’s Brazil Equity Fund on 25.24 per cent, according to Lipper Global.

At the end of a month of volatility in markets, the Guinness Global Energy fund, run by Tim Guinness, a scion of the brewer and also of the Hoare private banking family, was ranked third, with a rise of 24.73 per cent.

The rest of the top five was made up by the Wellington US Mid-Cap Growth Equity fund and the Long-Term Investment fund in natural resources Fund from SIA, which grew 24.49 and 23.32 per cent respectively.

 Much of the industry was hit by losses on Japanese investments and the fund with the worst record last month was Manek Growth, which was down 12.54 per cent, Lipper said.

M&G’s Japan Smaller Companies Fund also performed poorly, with a loss of 7.76 per cent. CF Morant Wright’s Nippon Yield, the Invesco Perpetual Japanese smaller companies accumulation fund and Aberdeen Global’s Japanese smaller companies fund were also named among the worst-performing, down by between 6.5 and 7.5 per cent each.

Nobody from Manek was available to comment but its report for the first-half of this year cites concerns over the effect on investments of the Arab Spring, the Eurozone crisis, the Japanese earthquake and oil prices.

Meanwhile international fund management group Neuberger Berman yesterday said it had raised about $720m (£455.32m) for a global fund for investment in private equity funds.