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The biggest money-making US funds since Trump won

Which funds have taken advantage of the post-Trump win market cycle to generate the best returns?

The election of Donald Trump last November to lead the world’s number one superpower certainly caught markets off guard.

However, while his time in office has been one framed by political turbulence and sporadic outbursts it is in stark contrast to the calm that has seemingly taken over the US stock market. It is experiencing its lowest level of volatility in decades and is continuing along its extended bull run.

In this analysis we took a look at the Ucits funds investing solely in the US market, both equity and bond vehicles, between November 8, 2016 and November 8 this year to find out which fund managers have managed to take advantage of this most paradoxical of market environments to generate top returns.

Unsurprisingly, the top performing funds were found in the US equity and US small and mid-cap equity sectors. Click through these slides to find out who came out on top.

In tenth position is Citywire A-rated Larry Puglia from T Rowe Price, who has been running his US Blue Chip fund since its launch in 2001.

Like its name suggests, his Blue Chip fund invests in the large and mega caps of the US market. He currently has a large overweight toward technology stocks that account for 38.6% of his total portfolio.

His next largest overweight is to the consumer discretionary sector, followed by a smaller bias toward healthcare. His top holdings include Amazon, Alphabet (Google's holding company) and Facebook.

Alexander Farman-Farmaian joined New York City boutique Edgewood Management in 2006 and has been running its US Select Growth fund ever since.

He runs a concentrated investment strategy, holding between 20-25 stocks at any time and focusing on the US market's large cap groups.

He adopts a bottom-up approach and his main hunting ground has been the financial sector, which accounts for 20% of his overall allocation.

Next in line is consumer discretionary (11.6%) and information technology (11.3%). Among his top stocks are Amazon, Facebook and credit card giant Visa.

The $1.77 billion fund is run by manager duo Daniel Crowe and Robert Lanphier. The latter has been managing the fund since its inception in 2004 while the former joined Lanphier as co-manager at the end of 2015.

The William Blair SICAV US Small Cap-Mid Cap Growth fund has around 75 holdings and invests just over half its assets in companies with a market capitalization between $4 billion and $10 billion.

Its largest sector allocation is toward technology (26%), followed by healthcare (20.3%) and industrials (16.2%). Among its top holdings are defense firm BWX Technologies, internet group CoStar Group and commercial supplier Copart.

Richard de Lisle, the eponymous owner of De Lisle Partners, is a British fund manager who started his own boutique in 2005 which specializes in the US market.

His UK-domiciled Ucits fund focuses on US small and mid-caps and in his latest commentary said: ‘Small stocks are crawling back as the underlying trends re-assert themselves but the bigger shock for me came on October 27th, as four of the largest tech companies accelerated their rate of growth and surged to new highs. At these new improved growth rates, we can even start to justify their price.’

Among his top holdings are banking groups Paragon Commercial and FS Bancorp and investment group Westwood Holdings.

Giri Devulapally and Joseph Wilson run the $355 million JPM US Growth fund which was initially launched in 2000. Devupally has been running the fund since June 2015 while Wilson joined him as co-manager in February this year.

Once again, technology comes out top of the sector allocation ranking, with the duo investing 37.4% of the fund's assets in this theme. This is followed by consumer discretionary (16.6%) and financial services (16.3%).

Among the fund's top holdings are Alphabet, Apple, Amazon and credit card firm Mastercard.

Daniel Roarty has 24 years investment experience as has been running the US Thematic Research fund since June 2013.

The fund invests primarily in US companies that are expected to benefit from long-term, secular themes such as innovation and demographic change.

As would be expected with a fund focused on innovation, technology stocks occupy a large part of the fund, with over 27% of its assets focused on the companies. Next is the healthcare sector (19.7%) and consumer discretionary (16.9%).

Among his top holdings are UnitedHealth Group, credit card giant Visa and water technology provider Xylem.

 

The Citywire A-rated Drew Beja of Granahan Investment Management runs a concentrated small cap portfolio of around 40 stocks where between 60-80% of the US Focused Growth fund is concentrated in its top 15 holdings.

The fund's median market cap is $1.4 billion and it currently has $300 million in assets under management.

Beja has been running the fund since its inception in 2007 when he was still at Leem Munder Capital Group, a firm he co-founded, before moved to Granahan in 2011.

Among his top stocks are commercial real estate group CoStar, tech firm LivePerson and online education company 2U.

 

Kicking off our top three is the first of two JP Morgan Asset Management funds.

Run by duo Eytan Shapiro and Timothy Parton, the $1.45 billion JPM US Small Cap Growth invests in small cap companies with leading competitive positions, durable business models and management that can achieve sustained growth.

In the fund's latest market commentary the duo said: 'We continue to find attractive opportunities within the information technology (27.98% portfolio weight) sector, and our exposure remains diverse through semiconductors and software.

'Consumer staples is the next largest overweight (4.52% portfolio weighting). The largest underweight exposures exist within health care (22.34% portfolio weighting) and real estate (2.18% portfolio weighting).'

Among its top holdings are John Bean Technologies, Trade Desk and Boyd Gaming.

In second place is the fund run by JP Morgan trio Don San Jose, Daniel Percella and Jon Brachle.

The $1.2 billion JPM US Smaller Companies fund invests in small and micro capitalization companies in the US market.

While financials is the trio's largest sector allocation at 22% it is an underweight position and is 4 percentage points lower than on the Russell 2000 index.

Consumer discretionary is next with 17.4%, one of their largest overweights, and producer durables at 13.5% Among the managers' top holdings are dispensing systems producer AptarGroup, turf equipment maker Toro and energy firm Patterson-UTI.

Coming top of our analysis of the best returning funds since Donald Trump won the US election is a US small cap fund run by Citywire AA-rated Todd Beiley of Virtus Investment Partners.

The Virtus US Small Cap strategy was originally launched almost half a century ago in 1969 and its Ucits version has been managed by Beiley since it was launched in 2014.

Financials and technology are Beiley's top sector allocations at 24% and 23.3% respectively, with tech being his largest overweight along with producer durables.

Among its top holdings are marketing company Primerica, Interactive Brokers Group and Autohome Inc.

Related Fund Managers

Todd Beiley
Todd Beiley
1/69 in Equity - US Small & Medium Companies (Performance over 3 years) Average Total Return: 61.56%
Timothy Parton
Timothy Parton
12/69 in Equity - US Small & Medium Companies (Performance over 3 years) Average Total Return: 41.67%
Eytan Shapiro
Eytan Shapiro
15/69 in Equity - US Small & Medium Companies (Performance over 3 years) Average Total Return: 41.00%
Drew Beja
Drew Beja
5/69 in Equity - US Small & Medium Companies (Performance over 3 years) Average Total Return: 47.64%
Daniel E. Crowe
Daniel E. Crowe
9/88 in Equity - US Small & Medium Companies (Performance over 1 year) Average Total Return: 29.12%
Robert Lanphier
Robert Lanphier
11/69 in Equity - US Small & Medium Companies (Performance over 3 years) Average Total Return: 42.54%
Richard de Lisle
Richard de Lisle
2/69 in Equity - US Small & Medium Companies (Performance over 3 years) Average Total Return: 57.43%
Jon Brachle
Jon Brachle
48/99 in Equity - US Small & Medium Companies (Performance over 3 months) Average Total Return: 8.95%
Daniel Percella
Daniel Percella
17/69 in Equity - US Small & Medium Companies (Performance over 3 years) Average Total Return: 40.93%
Don San Jose
Don San Jose
16/69 in Equity - US Small & Medium Companies (Performance over 3 years) Average Total Return: 40.93%
Daniel Roarty
Daniel Roarty
14/432 in Equity - US (Performance over 3 years) Average Total Return: 45.47%
Joseph Wilson
Joseph Wilson
158/638 in Equity - US (Performance over 3 months) Average Total Return: 8.15%
Giri Devulapally
Giri Devulapally
73/432 in Equity - US (Performance over 3 years) Average Total Return: 32.96%
Alexander Farman-Farmaian
Alexander Farman-Farmaian
11/432 in Equity - US (Performance over 3 years) Average Total Return: 46.88%
Larry J Puglia
Larry J Puglia
21/432 in Equity - US (Performance over 3 years) Average Total Return: 43.02%
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