SG Asset Management (SGAM), the fund manager battling against disappointing recent returns, has jumped from almost bottom performer to top in the latest pooled funds rankings by Russell Mellon Caps.

SGAM's £311m (€468m) balanced fund returned 6.2% in the final quarter last year, beating a median of 3.8% and posting a return in sharp contrast to the -18.0% the fund returned in quarter three. The UK-based investment house run by Nicola Horlick, also topped the rankings in UK equities, where its £129m fund returned 9.3% against a median of -22.6% for the fourth quarter.