Insights

From the monthly archives: June 2016

We are pleased to present below all posts archived in 'June 2016'. If you still can't find what you are looking for, try using the search box.

A-Rating for TwentyFour Corporate Bond Fund

Square Mile Investment Consulting & Research has added the TwentyFour Corporate Bond fund to its Academy of Funds, awarding it an A-rating.

The Academy of Funds is a dedicated section within Square Mile's website, where advisers can access analysis on all recommended funds. Each fund carries a rating – A, AA, AAA, R or P+ – as a mark of quality and a reflection of the level of conviction Square Mile's team of analysts has in a fund's ability to deliver on expectations.

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New Investec, Jupiter, M&G and Schroder Talking Factsheets

We have added 5 new Talking Factsheets to the Square Mile Academy of Funds. Talking Factsheets is a service for users of the Square Mile Academy of Funds, combining Square Mile's independent, qualitative fund research with accessible video content. The Talking Factsheets feature Square Mile's team of analysts reviewing the objectives and risks and giving their view of funds drawn from the Rated, Recommended and Positive Prospects lists.

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Threesixty appoints Square Mile to launch ‘Outcome-Focussed’ model portfolios

Threesixty, the financial adviser support services firm, has appointed Square Mile Investment Consulting & Research to launch a range of five outcome-focussed model portfolios. Each mandate will seek to deliver investment returns aligned to one of five specific objectives: capital preservation, inflation protection or one of three levels of income.

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A-Rating for Jupiter Distribution fund

Square Mile Investment Consulting & Research has added the Jupiter Distribution fund to its Academy of Funds, awarding it an A rating. The fund seeks to provide a sustainable level of income and the prospect of capital growth over the long term by investing in an actively balanced portfolio of fixed interest securities.

The Academy of Funds is a dedicated section within Square Mile's website, where advisers can access analysis on all recommended funds. Each fund carries a rating - A, AA, AAA, R or P+ - as a mark of quality and a reflection of the level of conviction Square Mile's team of analysts has in a fund's ability to deliver on expectations.

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Changes to the management of the Artemis Income and Artemis High Income funds

Following the announcement that Adrian Gosden is to leave Artemis at the end of June, Square Mile have suspended the AA and A ratings on the Artemis Income and Artemis High Income funds, respectively.

The Artemis Income fund will continue to be co-managed by Adrian Frost and Nick Shelton. Mr Frost, in particular, is a highly experienced investor who has been associated with this fund since January 2002. We are also encouraged by his commitment to the business for at least a further three years. The Artemis High Income fund invests around 20% in UK equities, managed by Mr Gosden, however the remainder of the assets are invested in fixed income securities and we continue to retain conviction in the bond team at Artemis.

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Reinstatement of A-Rating for Henderson Multi Manager Income & Growth Funds & Henderson Core Multi Asset Solutions Funds Back to Recommended

Square Mile Investment Consulting & Research confirms it is to reinstate the Henderson Multi Manager Income & Growth fund to an A-rating, and a Recommended rating to the Henderson Core Multi Asset Solutions Range of Funds, which includes Core 3 Income, Core 4 Income, Core 5 Income and Core 6 Income Growth Funds. 

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Investment Trusts or Open Ended Funds?

Investment trusts are sometimes put forward as a superior investment structure since they can provide stronger performances over open ended funds. I am far from sure that this is always the case. This article looks at whether trusts are better than open ended funds by considering the importance of the underlying investment strategy, the impact of costs, how investors can misapprehend the apparent advantages of gearing and stable income generation offered by trusts, and how exposure to illiquid investments can give trusts an advantage over funds.

It is scarcely a profound notion that fund returns are determined by the choice of investment strategy rather than the fund structure, though reading some commentary written about funds and you often wonder. To put this in simpler terms, the fund structure is nothing more than a bucket or container, designed to safeguard the rights and interests of the investor. It makes very little difference to the returns if an investment strategy is applied in an OEIC, SICAV, ETF or investment trust structure. The pricing of investment trusts can cause complications and it is possible to access assets at a discount to NAV but do not forget that if one investor is buying on a discount, another is forced to sell at a discount.

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Prosser Knowles Appoints Square Mile to Manage Model Portfolios

Square Mile Investment Consulting and Research has been appointed by Prosser Knowles Associates, a major regional advisory firm based in Kidderminster, Worcester and Cheltenham, to manage a series of six model portfolios. The Prosser Knowles portfolios will aim to deliver varying levels of capital accumulation, meeting their clients' differing risk appetite.

Hosted on the Old Mutual Platform, the portfolios will reference risk as a core consideration governing asset allocation. Each portfolio will be managed in line with Prosser Knowles' internal risk profiling processes as well as other externally managed mandates to ensure consistency and a close fit with clients' specific investment requirements.

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Manager change to Kames High Yield Bond

Following the announcement from Kames Capital of the departure of Claire McGuckin, co-manager of the Kames High Yield Bond fund, we have taken the decision to suspend our rating on the fund. This decision was not taken lightly, as we hold the Kames Fixed Income team in high regard and believe them to have many very capable managers among their number. Fellow co-manager Phil Milburn is currently on an extended leave of absence due to a period of ill health, but is expected to return to the business and to managing this fund in H2 2016.

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New Talking Factsheets

We are excited to announce the latest Talking Factsheets to be added to the Square Mile Academy of Funds. Talking Factsheets is a service for users of the Square Mile Academy of Funds, combining Square Mile's independent, qualitative fund research with accessible video content. The Talking Factsheets feature Square Mile's team of analysts reviewing the objectives and risks and giving their view of funds drawn from the Rated, Recommended and Positive Prospects lists.

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