Global picks

The stockbroker Hargreaves Lansdown has revealed the most popular shares and funds held by its growing legion of “Isa millionaires”, said Michelle Mcgagh on Citywire. The list’s strong “UK focus” is striking at a time when fund managers globally are so bearish about British prospects. According to the latest Bank of America Merrill Lynch survey, the UK stock market is “the most unpopular asset class in the world among big international investors, with confidence languishing at its lowest levels since the financial crisis”, said the FT. That might prove catnip to contrarians, but the consensus thinking is that the strongest share returns this year will come from Europe, Asia and emerging markets.

The best-performing global equity fund of the decade is Baillie Gifford Global Discovery, which has returned 333.4% to investors over ten years. It’s big on disruptive technology and innovative biotechnology – “themes likely to dominate markets in 2018”, said the FT. For those worried about volatility, Adrian Lowcock of Architas suggests JPM Global Macro Opportunities. As “a targeted return fund”, it aims to deliver a specific return above cash via “a basket of stocks and other assets”, and has delivered a total return of 56.3% over five years. A slightly racier option for stock purists is the T Rowe Price Global Focus Equity Fund, which invests in companies with aboveaverage earnings growth.