ii Super 60 performance review 2024
Discover how interactive investor’s rated funds performed in the three months to the end of December and for 2024 as a whole.
14th January 2025 14:47
Performance of the Super 60 funds ranged between +28.4% and -14.25 over the course of 2024, with exposure to US growth being key to success.
The top-performing fund was the iShares Physical Gold ETC GBP (LSE:SGLN), which aims to track the gold spot price as valued by the London Bullion Market Association. The strength of the commodity price rise was reflected in the 28.4% rise in this fund over the year.
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The next three funds on the top performers’ list all offer exposure to US equities. Jupiter Merian North American Equity invests across the market-cap scale using a quant approach that draws on five broad factors, including a market-dynamics component that considers momentum trends, short-term signals and dynamic valuation, which enables the model to shift between value and quality to reflect changing market conditions. The fund returned 26.68% over the year, comfortably ahead of the average large-cap blend peer.
Vanguard US Equity Index passively tracks the S&P Total Market Index, and narrowly underperformed the larger-cap focused S&P 500 index, as large-caps outperformed.
The final US fund on the list is Artemis US Smaller Companies. The manager, Cormac Weldon, has been at the helm of this strategy since October 2014. It tends to have a growth-style bias overall, but the team also considers value names where they see compelling upside potential. Despite its name, there is a focus on mid-caps within the fund rather than it being an outright small-cap product. With a return of 25.02%, the fund outperformed its benchmark the Russell 2000 Index, aided by the growth and mid-cap biases.
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The final fund to mention on the top five performers’ list is GQG Partners Global Equity. The fund is managed by highly experienced Rajiv Jain. The team has a growth-oriented outlook but in seeking to achieve this they adopt a flexible, medium-term investment approach. The portfolio typically comprises 40 to 50 names and the manager is not afraid to back his conviction. The fund outperformed its benchmark MSCI ACWI over the year with a return of 21.31%.
At the other end of the performance table was Baillie Gifford Shin Nippon Ord (LSE:BGS)with a negative share price return of 14.25%. Discount widening accounted for part of this weakness, with the NAV return being -9.49%. This Baillie Gifford fund has a strong growth bias as its investment approach follows the more extreme end of the house process and focuses on identifying companies with high earnings and sales growth at the bottom of the market-cap scale. The style of the product explains some of the weakness, but attribution versus the MSCI Japan Small Cap index benchmark shows significant stock-selection issues across IT, industrials and consumer discretionary.
Vanguard UK Govt Bond Index was the next fund on the underperformers’ list with a negative 4.41% return. The fund passively tracks the Bloomberg Barclays UK Government Float Adjusted Bond Index, with the relatively high duration impacting returns over the year.
TR Property Ord (LSE:TRY),produced a negative return of 4.07% share price return, helped by discount narrowing. The trust combines pan-European property equities, with a small allocation to UK physical property. Real estate was one of the weakest global sectors over the year which explains the negative returns here, as the share price return of the trust was clearly ahead of its benchmark FTSE EPRA NAREIT Developed Europe Capped Index return of -7.2%.
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With a share price return of -3.13% Utilico Emerging Markets Ord (LSE:UEM)is the next fund on the list. This trust is managed by Charles Gillings who has more than 30 years’ investment experience. Although its primary aim is to deliver long-term capital growth, it also provides a quarterly income and has shown a much higher dividend yield than the market over time. It is largely made up of companies found in the utilities, transport infrastructure and communications sectors, and therefore differs significantly from the average global emerging markets fund. Attribution for the year against the MSCI EM Index shows significant weakness from stock selection within utilities, but the fund outperforms over the medium term on an NAV basis.
The final fund on the bottom five performers’ list is Janus Henderson European Selected Opportunities, which produced a slightly negative return of -0.72%. The managers combine bottom-up and top-down research, paying close attention to global macro and sector trends. At the stock level, they focus on identifying companies with attractive cash flow return on investment (CFROI), that are undervalued, or those that are at inflection points where profit margins and/or CFROI are either improving or have the potential to do so. The fund underperformed peers and its benchmark over the year but outperforms both comparators over the medium term.
Top five Super 60 funds in 2024
| Group/Investment | 3 months | 1 year | 3 years | 5 years |
| iShares Physical Gold ETC GBP (LSE:SGLN) | 6.12 | 28.40 | 15.63 | 12.50 |
| Jupiter Merian North Amer Eq I GBP Acc | 12.64 | 26.68 | 39.74 | 105.94 |
| Vanguard U.S. Eq Idx £ Acc | 9.92 | 25.73 | 34.71 | 98.71 |
| Artemis US Smaller Companies I Acc GBP | 12.87 | 25.02 | 13.63 | 66.68 |
| GQG Partners Global Equity I GBP Acc | 3.54 | 21.31 | 45.22 | 93.97 |
Source: Morningstar - Total Return for OE / Market Return for CE - (GBP) to 31/12/2024. Past performance is not a guide to future performance.
Bottom five Super 60 funds in 2024
| Group/Investment | 3 months | 1 year | 3 years | 5 years |
| Janus Henderson European Sel Opps I Acc | -3.84 | -0.72 | 11.79 | 43.38 |
| Utilico Emerging Markets Ord (LSE:UEM) | -0.72 | -3.13 | 13.33 | 9.34 |
| TR Property Ord (LSE:TRY) | -10.50 | -4.07 | -26.88 | -20.52 |
| Vanguard UK Govt Bd Idx £ Acc | -3.65 | -4.41 | -27.96 | -25.52 |
| Baillie Gifford Shin Nippon Ord (LSE:BGS) | -3.93 | -14.25 | -48.78 | -37.05 |
Source: Morningstar - Total Return for OE / Market Return for CE - (GBP) to 31/12/2024. Past performance is not a guide to future performance.
Top five Super 60 funds for a five-year period
| Group/Investment | 3 months | 1 year | 3 years | 5 years |
| Jupiter Merian North Amer Eq I GBP Acc | 12.64 | 26.68 | 39.74 | 105.94 |
| Vanguard U.S. Eq Idx £ Acc | 9.92 | 25.73 | 34.71 | 98.71 |
| GQG Partners Global Equity I GBP Acc | 3.54 | 21.31 | 45.22 | 93.97 |
| Scottish Mortgage Ord (LSE:SMT) | 14.30 | 18.75 | -27.50 | 68.58 |
| Artemis US Smaller Companies I Acc GBP | 12.87 | 25.02 | 13.63 | 66.68 |
Source: Morningstar - Total Return for OE / Market Return for CE - (GBP) to 31/12/2024. Past performance is not a guide to future performance.
Bottom five Super 60 funds for a five-year period
| Group/Investment | 3 months | 1 year | 3 years | 5 years |
| WS Amati UK Listed Smaller Coms B Acc | -4.19 | 1.46 | -30.36 | -14.25 |
| Henderson Smaller Companies Ord (LSE:HSL) | -7.73 | 1.56 | -27.83 | -14.60 |
| TR Property Ord (LSE:TRY) | -10.50 | -4.07 | -26.88 | -20.52 |
| Vanguard UK Govt Bd Idx £ Dist | -3.65 | -4.41 | -27.96 | -25.52 |
| Baillie Gifford Shin Nippon Ord (LSE:BGS) | -3.93 | -14.25 | -48.78 | -37.05 |
Source: Morningstar - Total Return for OE / Market Return for CE - (GBP) to 31/12/2024. Past performance is not a guide to future performance.
Most-bought Super 60 funds in 2024
| Vanguard LifeStrategy 80% Equity |
| Scottish Mortgage Ord (LSE:SMT) |
| Fundsmith Equity I Acc |
| iShares Core MSCI World ETF USD Acc GBP (LSE:SWDA) |
| Vanguard U.S. Eq Idx £ Acc |
Most-sold Super 60 funds in 2024
| Scottish Mortgage Ord (LSE:SMT) |
| Fundsmith Equity I Acc |
| Vanguard LifeStrategy 80% Equity |
| City of London Ord (LSE:CTY) |
| iShares Physical Gold ETC GBP (LSE:SGLN) |
Changes to the Super 60 list (under review/developments)
- Removal of the Premier Miton US Opportunities Fund
- Removal of the M&G Global Macro Bond Fund
Super 60 videos in Q4
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These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
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.
The Super 60 investments list is selected and managed by our independent research partner Morningstar and reviewed by our in-house investment experts to help narrow down the wide choice of available investment products. We believe it represents a set of high-quality choices, across different asset classes, regions, and investment types.
However, you should note that the selection of Super 60 investments list is not a ‘personal recommendation’. This means we have not assessed your investment knowledge, your financial situation (including your ability to bear losses), your investment objectives, your risk tolerance, or your sustainability preferences.
You should ensure that any investment decisions you make are suitable for your personal circumstances, and if you are unsure about the suitability of a particular investment or think you need a personal recommendation, you should speak to a suitably qualified financial adviser.
The past performance of an investment is not a reliable indicator of future results, and ii does not guarantee or predict the future performance of the Super 60 investments list as a whole or the constituent investments.
Risk Warning(s)
The value of your investments may go down as well as up. You may not get back all the money that you invest.
Investing in emerging markets involves different risks from developed markets, in many cases the risks are greater.
The value of international investments is affected by currency fluctuations which might reduce their value in sterling.
Disclosure(s)
All funds listed are the Accumulation version of the fund, where available, where any income generated within the fund is reinvested automatically. Income versions of these funds may also be available for investors looking for income generated to be paid directly into their account.
Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab.
Any changes to the Super 60 investments list and the rationale behind those decisions will be communicated through the Quarterly Investment Review.
Details of all Super 60 recommendations issued by ii during the previous 12-month period can be found here.
ii adheres to a strict code of conduct. Members of ii staff may have holdings in one or more Super 60 investments, which could create a conflict of interest. Any member of staff involved in the development of research about any financial instrument in which they have an interest are required to disclose such interest to ii. We will at all times consider whether such interest impairs the objectivity of the recommendation.
In addition, staff involved in the production of the Super 60 investments list are subject to a personal account dealing restriction. This prevents them from placing a transaction in the specified instrument(s) for five working days before and after an investment is included or amended and made public within the Super 60 investments list. This is to avoid personal interests conflicting with the interests of investors in the Super 60 investments.