Square Mile has decided to remove the positive prospect rating on the Schroder Global Multi Asset Income fund. This fund was introduced into the Academy in July 2015, but since then our conviction in the proposition has not grown to the sufficient level required. Our general confidence in the manager and his process has waned over this period and a combination of factors have driven this, including, a number of team changes, both broader, and more specific to the fund, as well as subtle amendments to the investment process.