Insights

From the monthly archives: August 2015

We are pleased to present below all posts archived in 'August 2015'. If you still can't find what you are looking for, try using the search box.

Square Mile launches passives ratings

Square Mile Investment Consulting and Research today confirms it has extended its Academy of Funds to include "R" ratings for open-ended passive funds, with a total of 46 funds achieving this recommendation initially. These recommendations are designed to help investors select the most appropriate passive funds to meet their objective of matching index returns most closely.

Square Mile's assessment identifies funds that follow a low-cost approach to approximate the average market return, and can be held for the longer-term. Funds achieving "R" ratings are typically run by investment companies that demonstrate a firm commitment to running passive strategies. They track an index suitable to retail investors such as regional equity and gilt markets and are low cost, managed efficiently and of sufficient size to allow an accurate implementation of their strategy.

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Differing Approaches to Absolute Return

The Investment Association Target Return sector is a real mixed bag. The IA defines funds in the sector as funds managed with the aim of delivering positive returns in any market conditions, but where returns are not guaranteed. The funds in the sector must clearly state the timeframe over which they aim to meet their stated objective; this must not be longer than three years. At first sight this may seem to be a fairly tight set of criteria but in practice it covers a wide range of funds with very different risk return profiles. Over the last three years, the best performing fund has virtually doubled while the worst performing fund has lost 10 per cent. The maximum drawdowns across the sector have ranged between -0.5 per cent and a sizeable -17 per cent. Fund volatilities have ranged from levels typically seen in near cash funds to funds that have been more volatile than equities. Few other IA sectors have such a diverse range of fund strategies and return profiles.

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Richard Buxton promoted to CEO

Richard Buxton, manager of Old Mutual UK Alpha fund, has been promoted to CEO at Old Mutual Global Investors (OMGI) with immediate effect. He will be supported by Warren Tonkinson, who has been appointed to the newly created position of Managing Director.

Mr Buxton joined Old Mutual as head of UK equities in June 2013. He was previously head of UK equities at Schroders, where he managed the Schroder UK Alpha Plus fund for more than ten years.

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Chatfeild-Roberts to step down as Jupiter CIO

Over recent years the landscape for multi asset investing has changed - the introduction of Multi Asset Income and Risk Targeted funds for example, has brought generally lower cost and more outcome orientated products to the market which directly compete with more traditionally managed funds and funds of funds. With competition for viable solutions ever increasing, we view the decision of John Chatfeild-Roberts to pass on his CIO responsibilities to Stephen Pearson, thus allowing him to focus solely on the Merlin fund range, as a positive.

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Royal London UK Equity Income Talking Factsheet

We are excited to announce a new Talking Factsheet which has gone live on the Square Mile Academy of Funds. The Royal London UK Equity Income fund video features Jason Broomer, Head of Investments. 

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Square Mile announces three new fund ratings

Square Mile Investment Consulting and Research today confirms three new fund ratings, with two new entrants to the list of recommended funds and one rating upgrade.

• The Invesco Perpetual Global Financial Capital fund has been upgraded to an AA rating from Positive Prospect.

• The Henderson Multi Manager Income & Growth fund has entered Square Mile's Academy of Funds with an A rating.

• The L&G UK Property fund also joins the Academy of Funds with an R (Recommended) rating.

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