Just two UK investment vehicles have crept into the top ten active funds most recommended by advisers in May, research by AJ Bell has shown.

Lindsell Train UK Equity and Old Mutual UK Mid Cap made the top ten. The Schroder US Mid Cap fund and the Old Mutual North American Equity fund took the top two spots.

AJ Bell head of active portfolios Ryan Hughes commented: "The threat of a trade war with China and rising interest rates don't seem to have put advisers off the US, where President Trump's tax plans and a solid Q1 earnings season are having a positive effect on markets.

"Europe is also proving popular with the long term recovery prospects outweighing political unrest in Italy and the growth opportunities in Asia are also catching the attention of advisers. The UK continues to be out of favour, with economic growth stalling and Brexit lurking in the shadows."

The remaining funds in the top ten are the Fundsmith Equity, Jupiter European, M&G Optimal Income, Artemis High Income, Stewart Investors Asia Pacific Leaders and the Invesco Global Targeted Return fund.

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