Premier Miton has taken the top spot of FE Fundinfo’s crown ratings, with 12 of the highest-rated funds.
In the latest rebalancing of the ratings, released last week (July 28), Fidelity took the second slot with 10 five crown funds and GAM in third.
Only GAM, Fidelity and Liontrust maintained their spots in the top ten compared with the previous rebalancing in January.
BNY Mellon, Carmignac Gestion, Invesco, Janus Henderson and Royal London were joint fourth.
Group | Number of funds | Number of five Crown funds | % of five Crown funds | |
Premier Miton | 37 | 12 | 32.4 | |
Fidelity | 87 | 10 | 11.5 | |
GAM | 35 | 8 | 22.9 | |
BNY Mellon IM | 42 | 7 | 16.6 | |
Carmignac Gestion | 22 | 7 | 31.8 | |
Invesco | 49 | 7 | 14.2 | |
Janus Henderson | 56 | 7 | 12.5 | |
Royal London | 36 | 7 | 19.4 | |
Liontrust | 63 | 6 | 9.5 | |
Ruffer LLP | 7 | 6 | 85.7 | |
FE Fundinfo said the recent market turbulence had led to “significant shifts in fortune”, with 260 funds having their ratings changed, compared with 35 in January.
The risers and fallers are in a multitude of sectors and across fund groups showing that even the most experienced fund managers have struggled to maintain consistency across recent market movements.
The funds with the most improved ratings were in the IA’s specialist bond and flexible investment sectors. Funds in the IA’s volatility managed, mixed investment, and flexible investment sectors gained the highest rating for the first time.
Overall, 213 funds gained the five crown rating, bringing the total number to 349.
In order to qualify for ratings, the funds need to have a three year history, and FE Fundinfo looks at their performance against their benchmark.
Some 44 funds fell from a five crown to a one crown rating, with those in the IA’s UK all companies and global bonds sectors particularly affected.
The sector with the most number of the highest rated funds was the IA’s flexible investment sector, and the sterling strategic bond sector.
Research manager at FE Investments, Charles Younes, said: “With more new funds and diverse strategies gaining the highest rating this time around, we can see how volatile the markets have been as investors increasingly chase returns in order to navigate the twin challenges of inflation and interest rates.
“Across the 19 who have gained the accolade for the first time, we can see bond funds, growth funds and ethical funds included, as well as funds focused on smaller companies and global equities which shows once again the importance of having a diversified strategy.”
The following funds were re-rated from one crown to five:
- EF 8AM Tactical Growth Portfolio
- Allspring (Lux) Worldwide - US Short Term High Yield Bond
- AQR Managed Futures UCITS
- AQR Systematic Total Return UCITS
- AXA Global Short Duration Bonds
- Carmignac Portfolio Securite
- CCM Knox Global Balanced
- Fidelity China Focus
- GAM Multibond - ABS
- GAM Star Cat Bond
- GAM Star MBS Total Return
- Invesco European Focus (UK)
- Janus Henderson Institutional Short Duration Bond
- LF Morant Wright Nippon Yield
- M&G Japan
- Ninety One Global Macro Allocation
- LF Odey Opus
- Orbis Global Balanced
- Pictet Short Term Emerging Corporate Bonds
- Royal London GMAP Defensive
- Charity Assets Trust
- LF Ruffer Equity & General
- S&W Daisybelle
- S&W Smithfield Alternative Investment
- Schroder MM Diversity
- T. Rowe Price Dynamic Global Bond
- Capital Link Growth
- The Cranmer Investment
sally.hickey@ft.com
