Fund Objective

The Multi-Manager US Fund is designed to provide investors with actively managed exposure to the US equity market. The Fund aims to add value above the total return of the Russell 1000 Index primarily through active stock selection.

View on Past Performance

US markets declined by 2.0% in GBP terms during the second quarter. A rate cut by the Federal Reserve (Fed) early in the quarter had improved investor sentiment and equities rose during the first six weeks, to peak mid-May. This was led primarily by the strong performance of oil stocks and healthy corporate data.However, investor sentiment was diminished by concerns over the potential impact of the high oil price on consumer spending. Further write-downs and profit warnings from major financial institutions alongside weak economic data fuelled a sell-off which continued throughout June.Key economic data such as housing, manufacturing and employment was weak during the period which underlined Fed comments that further rate cuts were unlikely in the short term due to inflation.

Fund Details