Do you own any of these funds?

Do you own any of these funds? By Nick Sudbury The surprise result of the EU referendum sent shockwaves through the financial markets and created a huge amount of volatility. You would normally expect a diversified fund to be relatively immune to this sort of turbulence, but there have been some huge price swings with double digit gains and losses in some of the most affected sectors. Investors will need to be at the top of their game over the next few months as the picture starts to clarify. Hargreaves Lansdown published a list of the best and worst performing funds in the first week after the referendum and it makes for interesting reading. The main beneficiaries were funds that invest in gold producers such as WAY Charteris Gold Portfolio, BlackRock Gold and General and Junior Gold, with gains in excess of 18%. This was due to the increase in the USD/GBP exchange rate – which also helped many global funds − and the rise in the price of gold. The biggest casualties were UK funds with a large exposure to the domestic economy such as Threadneedle UK Mid 250, Elite Webb Smaller Companies Income & Growth and CF Miton UK Value Opportunities, with losses in excess of 11%. The latter was especially vulnerable as the management entered a transition period on June 27 ahead of the switch from Georgina Hamilton and George Godber to Andrew Jackson. Jackson, who had previously run the Ecclesiastical UK Equity Growth fund, will probably look back on it with mixed feelings as the fund fell 12% in June, although most of the decline will be attributed to his predecessors. In their review of the second quarter they said that they didn't speculate on the outcome of the referendum, but drew up a battle plan for each eventuality…. Click Here To Read The Full Story The Master Investor Market Report The FTSE 100 closed the day at 6,835.78, a fall of 32.73 points. The FTSE 250 rose 32.13 points to finish at 18,014.65. The FTSE All Share slipped 12.68 points to finish at 3,730.84. The FTSE AIM All Share finished at 792.06, up by 1.09 points. AstraZeneca (AZN) has inked a deal to sell its antibiotics business to US giant Pfizer for staged payments amounting to $1.6 billion (£1.2 billion) plus recurring, double-digit royalties on future sales. The pharma heavyweight said the sale would bolster its focus on developing medicines in its three main therapy areas, while realising value from what it claimed was a strong portfolio of established and late-stage antibiotics through Pfizer's commercialisation and development abilities. Shares in AstraZeneca climbed 18p to 5,080p. Get our August issue while it's hot! Click HERE to read. Minerals giant Glencore (GLEN) raised the prospect of its return to the dividend list in 2016 as management promised to focus on delivering even lower levels of net funding and debt by the end of the year than previously indicated and furnished investors with an update on its asset disposal programme. Operating profits at the half-year stage declined by 13% to $4.02 billion, while net income was down by 66% to $300 million. Nonetheless, CEO Ivan Glasenberg was confident the firm could achieve even lower than previously indicated net funding and net debt levels by the end of this year. Glencore finished 5.8p lower at 184p. Shares in WPP (WPP) jumped 33p to 1,780p after the advertising behemoth said first-half pre-tax profit was up 15.8% to £690 million, or 11.7% at constant currency, surpassing consensus expectations of £675 million. Meanwhile, reported revenue rose 11.9% to £6.5 billion, which was above consensus of £6 billion, boosted by a weaker pound. The firm now expects revenue growth for the full year of "well over 3%", which was an improvement on a previous estimate of "over 3%". Tomorrow's news today STV Group (STVG) and Playtech (PTEC) will release interim results. Quote of the day "The secret of politics? Make a good treaty with Russia." - Otto von Bismarck Latest Stories Chart of the Day: purplebricks By Zak Mir I am not sure whether the two Purplebricks “experts” on the home page of its website necessarily sell the concept or the company to me, but it is probably the case that in a buoyant housing market this does not really matter. What may matter more is whether the share price rebounds from the present… Click Here To Read The Full Story Chart of the Day: William Hill By Zak Mir A few weeks ago I bought a pair of glasses at Poundland (for £1, of course), but would have been better off not going to Specsavers and buying the shares as the company received a takeover approach… Click Here To Read The Full Story Brexit Puts a Shine on the Goldies – But Will It Last? By John Cornford Scotgold Resources (LON:SGZ) When I wrote up Scotgold back in November, it was to highlight how constant share dilution is 'hidden' from investors in the only charts available to them – i.e. the share price… Click Here To Read The Full Story My Favourite Options Brokers By Adrian Kempton-Cumber Following my article last month on Covered Call Writing we had a request from a reader to recommend some brokers that offer the services required. I wouldn't claim to have an in depth knowledge of all the companies in the market place, but I can simply say which companies I use myself… Click Here To Read The Full Story Chart of the Day: Nationwide By Zak Mir The housing market remains the big dinner party subject of choice, with the general conclusion being that it is a market which is a "one way bet". However, stocks related to this market, such as estate agent Countrywide, have a rather more complex technical set up… Click Here To Read The Full Story Join the movement on social media: Copyright 2016 Master Investor Ltd, All rights reserved. You are receiving this email because you opted in at our website. If a Daily Bulletin is too frequent, why not opt in to our once weekly mailing list for a round up of the week's news straight to your inbox. Once Weekly Round-Up Our mailing address is: Suite 88, 22 Notting Hill Gate, London W11 3JE Master Investor is a trading name of Master Investor Limited. 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