The U.K. equities sector is also well represented, with three managers. Despite the underlying efficiency of the U.K. stock market, it is one of the major sources of consistent outperformance in the world. Some 74 percent of fund managers in this sector outperformed over the past seven years. While you cannot rule out the impact of survivorship bias — bad managers will move or be fired — it is a figure that U.S. equity managers must look on with envy.
Elsewhere, European equities have been catching the eye of investors recently as the U.S. equity rally shows signs of faltering.
Three of the 1,000-plus managers tracked by Citywire in this sector have done enough to mix with the best by operating different approaches to investment in European equities.
Sebastian Müller of Germany's First Private offers a European equity income fund focusing on the continent's top dividend payers. This offering has no exposure to the U.K., preferring the economies of Germany, France, Spain and Finland.