From the monthly archives: September 2019

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

Rating suspension for the M&G Property Portfolio fund

Following a recent review of the M&G Property Portfolio we have suspended the recommended rating of the fund. The cash level of the fund as disclosed by M&G at the end of August was 6.5% which is just outside the fund's usual cash range of 7.5% to 12.5%. Given this is an open ended daily dealing property fund, we would prefer to see the fund within its typical cash range and we will continue to monitor its cash levels and fund flows for now.

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New M&G and Matthews Asia Talking Factsheets have been added to the Academy

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

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Premier Asset Management plc and Miton Group plc proposed merger

Following the announcement on Wednesday 4th September 2019, regarding the proposed merger of Premier Asset Management plc and Miton Group plc, we can confirm that we have not made any changes at this stage to the ratings of funds from either group. Completion of the deal is subject to shareholder and regulatory approval and therefore we do not anticipate either business making any changes to their funds until the merger is complete. This is expected to be in November 2019. We will provide further updates in due course.

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Square Mile upgrades the ratings on the AXA Global Short Duration Bonds, Fidelity Moneybuilder Income and Fidelity Extra Income funds

We are delighted to announce that we have upgraded the AXA Global Short Duration Bonds fund from a positive prospect to a A. Whilst this is a relatively new fund, we believe that it has got off to a good start, with the manager applying a considered process and making good use of the extensive resources in short-dated fixed income which are available at AXA IM. In addition, we are very pleased to reinstate the ratings on the Fidelity Moneybuilder Income and Fidelity Extra Income funds, both at A.

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Square Mile introduces the Man GLG Innovation Equity Alternative fund to the Academy of Funds

We are pleased to announce that we have awarded an A rating to the Man GLG Innovation Equity Alternative fund. This fund is a rare example in the IA Targeted Absolute Return sector of a highly-hedged equity long/short fund in which net market exposure is maintained at a low level in order to minimise directional stock market risk. The manager has a good track record of generating returns on both long and short investments, and the fund should have a low correlation with global stock market indices.

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