Of the 30 funds in September's BOTB, 19 funds have retained their place in October's selection. The chart below shows the performance of the BOTB against a benchmark that is calculated using the respective sector averages for each fund in the BOTB and assuming the same asset mix. The BOTB slightly underperformed after the bond market sell-off sparked a sharp rotation back into reflation trade equity sectors, such as cyclicals and financials.
While in August every single fund within the BOTB selection finished in positive territory, the reverse was almost true for September because as explained in September's newsletter markets universally fell during the month. The table below shows the top performers within the BOTB for the month of September and it's good to see three of those are held within my own £50k portfolio. Clearly, exposure to Indian and Russian equities was a real positive as evidenced by the performance of Liontrust India and Fidelity Emerging Europe Middle East and Africa.
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