Matteo Anelli

Investors who have been trying to cut their technology exposure this year in pursuit of diversification will have noticed how hard it is as more industries and geographies become increasingly dependent on the AI theme.

An AI bull admitting that money is being wasted on artificial intelligence might sound like a contradiction but Stephen Yiu, manager of the WS Blue Whale Growth fund, doesn't see it that way. “At this moment in time, I would agree that money is being wasted, but that overinvestment is more of a use-case-specific issue,” he said.

Holding on to a five FE fundinfo Crown Rating is exceptionally difficult. The biannual rankings assess three-year fund performance across alpha, volatility and consistency of returns, with only the top 10% of funds awarded the full five crowns. So whether it be the asset class falling out of favour or peers overtaking, there are many reasons why funds fall from the top spot. Yet there are some specific mandates that top the pile more often than not.