Money market funds continue to remain popular in the current economic landscape, as investors look to benefit from the high interest rates on offer. June also saw a higher volume of tech funds in the list, with the performance of large tech companies in H1 proving to be extremely lucrative, after disappointment in 2022. Tesla stock has jumped 120% in the first 6 months of 2023, Meta is up 130%, Alphabet has grown by 35% and Apple by 55%. All this has contributed to bumper growth in the tech industry, and so it is no surprise to see investors continue to flock into these funds as they try to get a piece of the action. Investors should remember that the flip side of this coin is that many say tech stocks now look overvalued, so make sure you aren’t just following the herd or forgetting to diversify and hedge your bets.
