1. Schroder US Mid Cap
Rating: 
Gold
There’s no denying this fund has in recent years lagged its peers during a strongly rising market, but we believe it remains an attractive offering in the US small- and mid-cap space, says Morningstar analyst Oliver Kettlewell.
This team's stability is noteworthy and in our view this structure has enabled them to make better use of each other’s expertise and thoroughly execute the investment process behind this offering.
2. Dodge & Cox Worldwide US Stock
Rating: Gold
Persistence has paid off for investors in Dodge & Cox Worldwide US Stock, says Kettlewell.
This fund only launched in late 2010, but it is a mirror of a US-domiciled offering with a record stretching back more than three decades. A number of stocks in the portfolio could be deemed unloved or controversial and this fact comes through in at-times lumpy performance. Key among the detractors were financials, but management didn't flinch, adding to some names on weakness and initiating new positions, many of which had rebounded well through March 2013.
3. Threadneedle America
Rating: Bronze
We’re disappointed by the number of changes taking place in the analyst team that supports this fund, though we remain convinced of the fund’s merits due to our high opinion of the fund manager, says Kettlewell.
We think Cormac Weldon, who took over from Andrew Holliman in June 2011 following Holliman’s departure from Threadneedle, is an excellent fund manager. Although we are watching the impact of these developments, we remain firmly convinced of the fund’s merits.
4. JP Morgan US
Rating: Silver
JPM US portfolio boasts an experienced management team using a disciplined and a proven process, says Morningstar analyst Fatima Khizou.
This fund benefits from an experienced management team headed by Dennis Ruhl since its launch in 2004. The team receive considerable support from a well-resourced behavioural finance team that is heavily involved in the research process. This cohesive structure has enabled them to make better use of each other’s expertise.
5. BNY Mellon American
Rating: Bronze
BNY Mellon American is an excellent choice for investors seeking pure US large-cap growth equity exposure, says Morningstar analyst Lena Tsymbaluk.
The lead manager is Elizabeth Slover, but rather than being accountable for the fund’s stock selection, she focuses on managing top-down risk and capital allocation. Capital is spread across the 15 career analysts, whilst sector weights are held neutral relative to the Russell 1000 Growth index. The analysts then attempt to add value by picking their stocks and each analyst has freedom to apply their own investment process to their slice of capital.
