The stock market year 2024 had a strong first half but has since been more volatile and cautious. Despite this, the broad Stockholm stock market (OMXSGI) has shown a positive development of around 9 percent. Meanwhile, the American stock indexes have had a fantastic year with nearly double the growth, reaching close to 30 percent.
By looking at the best and worst-performing funds of the year, one can get a good idea of which sectors have performed the best – and which have performed the worst.
Among the best-performing funds in 2024, there is a clear dominance of high-growth American technology companies.
In terms of regions, 9 out of the 10 best funds this year have a majority exposure to the USA. The 10th fund (ranked 6th on the top list) has full exposure to India. It is also clear that the tech industry has emerged as the winner of 2024.
Looking closer at the largest holdings in the funds, the top stocks across all nine American tech funds are Tesla, NVIDIA, Microsoft, Meta, and Cloudflare. These five companies have had an average return of 75 percent this year, driven largely by the booming developments in AI and cloud services.
The best-performing funds also have in common that they are all actively managed, resulting in somewhat higher fund fees, ranging between 1.7% and 3.3%. Here you can read more about how to think about fund fees.
It’s been a fantastic year for American tech companies, to say the least.
The Best-Performing Funds of 2024
Total fund fee in parentheses.
- DNB Disruptive Opportunities A +67% (3,24%)
- MS INVF Global Insight A +66% (2,12%)
- MS INVF US Growth A USD +63% (1,96%)
- SEB AI – Artificials Intellig C SEK +53% (1,73%)
- SEB Teknologifond +51% (1,76%)
- Allianz India Equity AT USD +51% (2,36%)
- Handelsbanken Global Digital +50% (1,53%)
- MS INVF US Advantage A +50% (1,94%)
- JPM US Growth A (acc) USD +50% (2,29%)
- BGF World Technology A2 +50% (2,11%)
Source:Avanza
