Investing at this time remains challenging due to unresolved geopolitical tensions impacting the global economy, energy prices, production costs, and capital flows. Investors need to be more cautious in strategizing. Thus, mutual funds managed by experts who diversify risk present an attractive option. But which mutual funds still deliver good returns in such conditions?
Before reviewing global equity funds, let's look at the fund groups performing well since early 2026. Notably, the top 10 highest-return funds mostly concentrate on oil themes aligned with rising global energy prices, yielding returns between 60-70% since the start of the year.
The sharp rise in oil funds recently stems from a clear upward trend in global oil prices, pressured by supply constraints due to tensions between the U.S., Israel, and Iran—especially the closure of the Strait of Hormuz—and production controls by oil-exporting countries.
Although global stock markets remain volatile this year amid various factors, "global equity funds" remain appealing for investors seeking risk diversification and growth opportunities worldwide.
Funds with sharp asset selection skills still have potential for outstanding returns. Reviewing performance since early 2026 reveals some funds accelerating returns impressively, ranking among the "top" in this category. The top three highest-return funds are:
1. I-10, or MFC International Ten Open-End Fund.
This fund invests in foreign securities related directly and indirectly to traditional and alternative energy.
Historical returns:
2. BCAP-CLEAN, or B-CAP Clean Innovation Open-End Fund.
This fund invests in units of foreign equity mutual funds, which diversify into securities of companies benefiting from innovation aimed at sustainable environmental preservation.
Historical returns:
3. Principal GOPP-X, or Principal Global Opportunity Open-End Fund (Special Investor Type).
This fund invests solely in the Morgan Stanley Investment Funds Global Opportunity Fund, focusing on 30-40 high-quality global stocks with sustainable growth, emphasizing high-growth stocks benefiting from long-term trends.
Historical returns:
Despite ongoing uncertainty in global stock markets, many investors see volatility as an opportunity to select "star funds" to generate returns.
Looking closely at the five major markets popular with Thai investors, each market presents different trends and stories. Thairath Money highlights leading funds with the highest returns in each of these markets as follows:
U.S. Stock Market
KFUSRMF, or Krungsri US Equity Retirement Fund.
This fund invests in units of the GQG Partners US Equity Fund, focusing on equity securities or equity-linked instruments including common stocks, preferred stocks, and options of U.S. companies. It may also invest in equities of companies outside the U.S. in both developed and emerging markets.
Historical returns:
Chinese Stock Market
DAOL-CHIG, or Dao China Growth Open-End Fund.
This fund invests in units of Matthews Asia Funds – China Discovery Fund, Class I (USD), focusing on small to mid-cap companies in China (including Hong Kong, Macau, Taiwan) with high growth potential, particularly companies tied to China's structural growth.
Historical returns:
European Stock Market
PRINCIPAL EUEQ-X, or Principal European Equity Open-End Fund (Special Investor Type).
This fund invests in the Principal Global Investors Funds - European Equity Fund, focusing on equities of companies listed or primarily operating in Europe. It targets fundamentally strong, sustainably growing stocks diversified across industries like Nestlé, ASML Holding, AstraZeneca, and Roche.
Historical returns:
Asia-Pacific Stock Market (excluding Japan)
PRINCIPAL KEQ, or Principal Korea Equity Open-End Fund.
This fund invests in units of JPMorgan Funds-Korea Equity Fund, focusing on Korean stocks with proactive management seeking high growth opportunities in key Korean industries such as technology and finance.
Historical returns:
Japanese Stock Market
PRINCIPAL JEQ-X, or Principal Japanese Equity Open-End Fund (Special Investor Type).
This fund invests solely in Alma Capital Investment Funds-Alma Eikoh Japan Large Cap Equity Fund, mainly focusing on large Japanese companies.
Historical returns:
Finally, regardless of fund type, there is potential for returns under suitable market conditions. However, past performance does not guarantee future results. Investors should carefully study information, understand investment policies, risks, and alignment with their financial goals before making any investment decisions.
Note: Data from settrade.com and finnomena.com as of 20 March 2026.
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