Insights

From the monthly archives: July 2019

We are pleased to present below all posts archived in 'July 2019'. If you still can't find what you are looking for, try using the search box.

Rating removal for the Artemis US Absolute Return fund

Following the news that fund manager Stephen Moore is leaving Artemis, we have removed our A rating on the Artemis US Absolute Return fund. We will meet with the new manager of the fund, William Warren, in due course, but felt it more prudent to allow him some time to settle into his new role.

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New Jupiter Talking Factsheets have been added to the Academy

We have added two new Talking Factsheets to the Square Mile Academy of Funds, featuring Research Manager, Amaya Assan and Head of Risk Based Solutions Research, Alex Farlow, reviewing the objectives and risks and giving their views on the funds.

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Update on the suspension of the LF Woodford Equity Income fund

Square Mile's analysts met with Neil Woodford on the 15th of July 2019. While they received some reassurances over certain questions they put to him, the rating on the LF Woodford Equity Income fund remains suspended until we can fully assess the final shape of the portfolio, whether it remains true to its stated objectives and we are satisfied that there are adequate controls in place to ensure the situation isn't repeated.

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New BNY Mellon Talking Factsheet has been added to the Academy

We have added a new Talking Factsheet to the Square Mile Academy of Funds, featuring Head of Risk Based Solutions Research, Alex Farlow, reviewing the objectives and risks and giving his views of the fund.

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Manager changes for the Threadneedle High Yield Bond fund

Following today's announcement that long-standing co-manager of the Threadneedle High Yield Bond fund, Barrie Whitman, will be retiring at the end of the year, we would like to reiterate our A rating on the fund.

We acknowledge the great contribution that Mr Whitman has made to the fund and believe that he has built up a competent and very able team, including the fund's co-manager David Backhouse, who will be more than capable of managing the fund upon Mr Whitman's retirement.

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Fund rating suspension on the Baillie Gifford Multi Asset Growth fund

Following the announcement that Patrick Edwardson, manager of the Baillie Gifford Multi Asset Growth fund and head of the multi-asset team, will retire from the business in April 2020 after 27 years, we have decided to suspend the fund's rating. Mr Edwardson has been one of the portfolio managers on the fund since its inception back in 2015 but the remaining four co-managers will continue to run the fund following his departure. Nicoleta Dumitru will become a named manager across the multi-asset strategies and James Squires will succeed Mr Edwardson as head of the team.

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Job opportunity: Marketing Manager

Are you passionate about delivering marketing campaigns with real added value? Do you want to play a key part in driving our growth?

We have an exciting new opportunity for a Marketing Manager to join a small and dynamic business based in the City of London - and we're looking for an equally dynamic person to join our journey.

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Update on the suspension of the Jupiter European and JGF Jupiter European Growth Funds

Following the recent announcement that long serving manager, Alexander Darwall, will be leaving Jupiter Fund Management plc, we are retaining our suspended ratings on the Jupiter European and JGF Jupiter European Growth funds.

Mr Darwall's replacement, Mark Nichols, commenced employment at Jupiter on 1 July 2019, and will officially assume responsibility of both funds during the fourth quarter of the year. We will be meeting with Mr Nichols in the near future to discuss his plans for both funds, which currently remain under the stewardship of Mr Darwall.

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Update on the suspension of the LF Woodford Equity Income fund

Following the announcement that Link Fund Solutions has maintained its suspension of trading for at least another 28 days in the LF Woodford Equity Income fund, we are reaffirming that our rating on the fund remains suspended.

We placed a suspension notice on the fund's rating in April and it will remain in place while we seek reassurances from Woodford Investment Management over a number of questions we have raised in the interim. When we have a clear view of the future shape of the portfolio and can judge whether this is in line with the best interests of investors and the fund's stated objective, we will reassess the strategy.

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