Mr Dennehy also highlighted the US smaller companies sector as promising, saying it has benefitted from Trump’s tax policies and confidence in the US economy.
He said: "Small caps, which tend to be more domestically focussed, have been less affected by the 'global trade war' headlines.
"An alternative to the T.Rowe Price fund is the Artemis US Smaller Companies fund, which has outperformed the T. Rowe Price fund by 30 per cent since 2014 and has also had momentum recently."
These are the 22 funds picked by Morningstar:
Fund Name | Asset Class | Global Category |
Algebris Macro Credit | Alternative | Other Alternative |
BSF Style Advantage | Alternative | Multialternative |
Capital Group Euro Bond | Fixed Income | Euro Fixed Income |
Dodge & Cox Worldwide Global Bond | Fixed Income | Global Fixed Income |
Eaton Vance Intl (IRL) Global Macro | Alternative | Other Alternative |
Eleva UCITS-Eleva Euroland Select | Equity | Europe Equity Large Cap |
Exane Funds 1 Exane Integrale | Alternative | Multialternative |
Fidelity Japan Smaller Companies | Equity | Japan Equity |
GS GQG Partners Global Equity | Equity | Global Equity Large Cap |
GuardCap Global Equity | Equity | Global Equity Large Cap |
Investec Global Special Situations | Equity | Global Equity Large Cap |
Jupiter Europa | Alternative | Long/Short Equity |
Jupiter Global Emerging Markets | Equity | Emerging Markets Equity |
Magallanes V.I. UCITS European Equity | Equity | Europe Equity Mid/Small |
Man GLG European Income Opportunities | Equity | Europe Equity Large Cap |
Miton Global Opportunities Ord | Allocation | Aggressive Allocation |
Polar Capital Biotech | Equity | Healthcare Sector Equity |
Schroder ISF EURO High Yield | Fixed Income | High Yield Fixed Income |
T. Rowe Price Frontier Markets Equity | Equity | Emerging Markets Equity |
T. Rowe Price US Smaller Companies Equity | Equity | US Equity Small Cap |
UBS (CAY) China A Opportunity | Equity | Greater China Equity |
Waverton European Dividend Growth | Equity | Europe Equity Large Cap |
