The best and worst performing funds of 2019

We name the top 10 best- and worst-performing funds of the year.

The best-performing fund of the year was Allianz China A-Shares. It invests in Chinese companies that are listed on China’s domestic market index, including both those in Shanghai or Shenzhen.

Compared to the Shanghai index, the fund has performed strongly. Year-to-date the SSE Composite index has seen a price rise of around 22%. In contrast, Allianz China A-Shares has returned just under 51% from 1 January 2019 to market close on 16 December 2019.

The funds stock selection played an important role. The biggest holding in the portfolio is Ping An Insurance (SEHK:2318). In price terms, this company has seen its share price rise by over 55%. The company’s second largest holding, Shanxi Xinghuacun Fen Wine Factory, has done even better, seeing its share price rise by almost 160%.

Wellington FinTech came in second, with a year-to-date return of 41.8%. As the name suggests, the fund invests in technology to enhance or disrupt traditional financial services.

Its largest holding, Global Payments, saw its share price rise almost 80%. It also has large holdings in Visa (NYSE:V), Mastercard (NYSE:MA) and PayPal (NASDAQ:PYPL).

The most familiar name with the strongest performance in 2019 is ASI UK Smaller Companies, which managed to return 40% this year. The year has generally been good for UK small cap companies. However, ASI Smaller Companies, under the management of Harry Nimo, has managed to race ahead of the pack.

Elsewhere, Pictet Russia Index produced strong returns of almost 40%. The inclusion of the index tracker is not surprisingly, given the fact that the Russian was the best performing in 2019. Russian equities were buoyed by several factors, including a rise in oil prices, central bank easing and more generous dividend payments from several large companies.

Pictet Russia Index was also the best-performing fund during the first half of the year.

Another index tracker also topped the list: L&G Global Technology Index Trust, with returns of 37.6%. Its appearance on the list underlines the strong performance of tech stocks throughout the year.

The worst fund was VT Garraway Absolute Equity, which lost investors 62.3% measured year-to-date. The fund had a troubled year, being suspended several times throughout the year.

That was not the only absolute return fund in the list, with Merian Global Equity Absolute Return losing investors 12.1%. Absolute Return funds have a bad reputation and rightly so.

Absent from the list is the name Woodford. That, however, is because Woodford Equity Income, which was suspended in June and is now in the process of being wound up, has now been renamed LF Equity Income for the duration of its existence.

Since the start of the year the fund has lost investors 22.7%. The fund is currently selling its assets to return to shareholders. According to the latest update, around half of assets have sold and investors should start receiving their money back in January.

Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.