Biotech and healthcare funds had a storming June, outperforming all other sectors, according to data from FE fundinfo collated by Fairview Investing’s co-founder Ben Yearsley.
Biotech and healthcare funds collectively delivered an 8.8% return for the month, with North American smaller companies in second place at 6.9% and financials third at a 5.1% aggregate return. Fourth was Indian equities at 4.71% and the fifth best performer was listed property with a 2.65% rise.
At the individual fund level, Pictet Biotech led the way with a 14.4% return, followed by Polar Capital Biotechnology at 14.2% and Candriam Biotechnology with an 13.8% return.
Turning to the other end of the performance scale, and the worst sector was commodities and natural resources, which reversed much of the war-driven gains of the previous months to fall 5.9% overall. Second worst was European smaller companies which shed 2.5%, and the third poorest return came from UK smaller companies at loss of 1.8%.
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“Did anything happen in June?” said Yearsley. “Biblical heatwaves, flights of locusts, the four horsemen of the apocalypse, Keir Starmer resigning, an on/off peace treaty between the US and Iran, Germany being knocked out of the World Cup on penalties, oh and the little matter of the SpaceX float making Elon Musk a trillionaire, in dollars obviously, not sterling.
“Starting with Iran and the tentative peace deal has held despite a few minor skirmishes. President Trump claims it’s a great deal, or words to that effect, but the key point is that oil has responded and fallen sharply in price.”
He added that oil suffered its biggest quarterly fall in six years, while gold saw its biggest three-month fall in a decade.
“Gold has fallen sharply in recent times as the threat of higher rates impacts an asset with no yield,” Yearsley continued. “Earlier in 2026 gold traded at over $5,500 an ounce, it now trades close to $4,000, it closed yesterday at $4038.”
Yearsley noted Polar Capital had three funds in the top 10 with the “racy” Biotechnology and Healthcare Discovery funds leading the way for them and the “stodgy but consistent” Global Insurance fund also delivering a double-digit return.
Performance of funds in June 2026
| Top ten best-performing funds over one month | Return % |
| Pictet Biotech | +14.42 |
| Polar Capital Biotechnology | +14.19 |
| Candriam Biotechnology | +13.84 |
| Polar Capital Healthcare Discovery | +13.82 |
| Polar Capital Global Insurance | +11.84 |
| Goldman Sachs US Small Cap Equity | +11.67 |
| Alger Weatherbie Specialised Growth | +10.47 |
| Matthews China Innovator | +10.45 |
| T Rowe Price China Evolution Equity | +10.38 |
| T Rowe Price Health Sciences Equity | +10.37 |
| Top ten worst-performing funds over one month | Return % |
| FP Brunel Smaller Companies Equity | -16.86 |
| Active Solar | -15.92 |
| Jupiter Gold & Silver | -13.73 |
| Baker Steel Electrum | -13.39 |
| Charteris Gold & Precious Metals | -13.31 |
| Amati Strategic Metals | -13.1 |
| Baker Steel Gold & Precious Metals | -13.07 |
| VT Price Value Portfolio | -11.84 |
| CG Goehring & Rozencwajg Resources Feeder | -11.36 |
| Charteris Global Macro | -11.29 |
Source: FE fundinfo. Data from 31 May, 2026 to 30 June, 2026.