The Technology & Media sector has produced the best investment company performance so far in 2019, according to analysis by the Association of Investment Companies (AIC).

The often turbulent sector produced a return of 34% over the year to 30 November compared to the average investment company return of 14% over the same period.

Companies in the Environmental sector delivered the second-highest return of 30%.

The third best performing sector was UK All Companies at 27% and fourth was UK Smaller Companies at 26%.

Among individuals investment companies, the 10 best-performing AIC member investment companies were from a variety of sectors but companies in the UK Smaller Companies sector featured most prominently, said the AIC, providing four of the top 10.

UK Smaller Companies sector member BlackRock Throgmorton Trust has been the best-performing AIC member company of the year so far, producing a 49% share price total return from 1 January to 30 November.

It was followed by UIL in the Flexible Investment sector, up 48%, and JPMorgan Russian Securities up 47%, over the same period.

Top 10 investment company sectors by % share price total return from 1 January to 30 November 2019

Source: AIC/Morningstar. “N/A” is shown where sectors had fewer than three constituents for a period.

Annabel Brodie-Smith, communications Director of the Association of Investment Companies (AIC), said: “Political uncertainty, trade wars and worries about an economic slowdown have been on investors’ minds all year. So it’s good to see the average investment company delivering a healthy 14% return.

“Despite the lack of clarity surrounding Brexit, the UK sectors have delivered strong returns. And as more investors have become interested in ESG investing, it’s encouraging that the Environmental sector has performed well, with a return of 30% since January.”