• UK Funds Stick to Benchmark in Q1: Average UK fund returns of 2.74% sit marginally behind SPDRs MSCI ACWI ETF by -0.33%, with 47.6% of funds outperforming.

• Value Trumps Growth: Value and GARP funds beat their Growth peers, with 20% separating the best and worst UK funds on the quarter.

• Financials & Pharma Drive Returns: Natwest Group, Barclays and GSK among top contributors to Q1 returns. Utilities and Materials the underperformers.

• Glencore and Rio Tinto Positions Outperform: Underweights in both stocks help claw back losses made due to Rolls-Royce and BAE Systems underweights.

• Active vs Passive: Active UK funds trail SPDRs FTSE All Share ETF by 8.9% over 10 years, though individual strategies have returned significantly more.