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April Performance Update: Trends and Observations

We are pleased to continue our series of monthly updates on performance and risk data across a selection of multi-asset funds. We hope this update provides you with valuable insights into the current market conditions and fund performances.

We remain dedicated to assisting you in navigating these complexities to achieve your investment goals. For a deeper discussion on how these trends affect your specific portfolios, or to adjust your investment strategies, please do not hesitate to contact us.

As always, we welcome your feedback and are open to discussions about your specific investment needs.


April Highlights:

  • Market Volatility: April experienced a downturn in fund returns, which erased some of the gains from earlier in the year. This demonstrates the fluctuating nature of markets and reinforces the importance of strategic, long-term planning in investment management.

  • Longer-Term Performance: Despite the losses in April, a 70/30 benchmark consisting of global equities and UK short-dated gilts remained marginally ahead of the CPI+4% on a five-year rolling basis. This supports the importance of matching investment strategies to your time horizon, as longer-term investors can navigate periods of market volatility.

  • Growth Strategies: Select growth strategies managed to outperform the 70/30 benchmark during April, and now hold an advantage over this benchmark in both the 3-month and 6-month trailing periods. However, most funds continue to fall short of the benchmark over longer periods. This underscores the complexity and challenge of achieving consistent outperformance.

  • Performance Disparity: The variance in returns among growth funds was particularly significant, ranging widely and emphasising the importance of careful manager selection and continuous portfolio monitoring.

  • Diversified Strategies: In the recent market downturn, most diversified strategies yielded better outcomes compared to their growth-oriented counterparts. While growth funds generally presented better risk-adjusted returns over longer periods, understanding specific risk tolerance remains crucial in fund selection to align with your strategic objectives.

  • ESG Considerations: Our analysis continues to include an assessment of ESG risks, where sustainably managed growth strategies exhibit lower risks compared to traditional benchmarks. This aspect remains vital for investors who prioritise sustainable investment principles in their portfolio construction.


The information presented is intended for organisations and individuals with professional investment experience. Portfolio Manager Consultancy Ltd is committed to serving professional clients, ensuring our advice and insights align with the sophisticated needs of this group. We encourage those who do not have professional investment experience to seek advice before making any investment decisions based on this update. For a full understanding of our terms and the scope of our advice, please consult the disclaimer provided.

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