From the monthly archives: July 2016

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

New Aviva and Jupiter Talking Factsheets

We have added 2 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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Dr Thomas See departs Schroders

Following a restructuring within Schroders, Head of Structured Fund Management, Dr Thomas See, has left the business. Dr See was responsible for the options overlay within the group’s Income Maximiser range of funds. This responsibility now falls to Mike Hodgson, who leads a newly formed team, Risk Managed Investments and Structuring. We do not see this change as material and as such retain the A rating on the Schroder Income Maximiser fund.

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Property Funds - Ratings Suspended

After much debate, Square Mile has taken the decision to suspend the ratings on all the property funds we recommend.

Following a slowing of returns from commercial property, and exacerbated by a fall in property values and a worsening of sentiment following the UK's vote to leave the European Union, there has been a significant outflow of retail money from the property sector. This has led to a series of events of which investors should be aware. Firstly, many funds have swung their prices to a cancellation basis, reflecting greater outflows than inflows. The exact impact that this had on price will depend on the fund, but has generally been in the region of 5%. Secondly, following the Brexit vote many funds applied a fair value price adjustment, further reducing the price of their funds by 4-5%.

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Baring High Yield Bond fund - Fund Rating Removal

Following the announcement that Baring Asset Management is handing over management of their High Yield Bond fund to sister company, and fixed income specialist, Babson Capital Management, and that current manager Ece Ugurtas is to leave the company, Square Mile have removed our rating of the fund. We shall seek to meet with the team at Babson over the coming months.

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