Insights

From the monthly archives: January 2020

We are pleased to present below all posts archived in 'January 2020'. If you still can't find what you are looking for, try using the search box.

Square Mile confirms two new board appointments

Square Mile Investment Consulting and Research (Square Mile) confirms two new board appointments with immediate effect. Tony Stenning and Steve Kenny join the board of Square Mile Investment Consulting and Research as Non-Executive Director and Executive Director respectively. Steve, who is Commercial Director at the firm, has also joined the board of Square Mile Investment Services.

In becoming board members, Tony and Steve will provide further expertise to support Square Mile’s growth ambitions. The business believes that strong and proper corporate governance is vitally important and these appointments will provide additional strength and depth to controls in this area, reflecting the continued success and expansion of the business. Both Tony and Steve bring a wealth of experience gained during the course of their careers across asset management distribution and executive management. 

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Eduardo Sánchez joins Square Mile

Square Mile Investment Consulting and Research (Square Mile) confirms a new appointment with Eduardo Sánchez joining the company as Senior Investment Research Analyst. Eduardo will be responsible for maintaining Square Mile’s universe of rated funds with a particular focus on the fixed income sector, while identifying and researching new ideas for consideration by the broader team. He will report to John Monaghan, Head of Research. This new role brings the total number of investment professionals at Square Mile to 18.

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New Unicorn Talking Factsheet has been added to the Academy of Funds

We have added a new Talking Factsheet to the Square Mile Academy of Funds, featuring Investment Research Analyst, Paul Angell reviewing the objectives and risks and giving his view of the fund below:


Unicorn UK Ethical Income Fund - This fund benefits from a series of exclusion based screens in order to ethically invest for income in smaller and medium sized UK companies.

 

Eleanor Tickle joins Square Mile

Square Mile Investment Consulting and Research (Square Mile) is delighted to announce the appointment of Eleanor Tickle as Marketing Manager. In this new role within the firm, Eleanor will be responsible for setting and implementing the company’s digital strategy as well as supporting the delivery of overall marketing initiatives, including PR. She will report to Stephanie Bone, Head of Marketing.

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IA Responsible Investment Framework

The Investment Association has recently launched the first industry-agreed framework for common approaches to responsible investment (“Responsible Investment Framework”). This Framework categorises, and provides standard definitions for, the different components of responsible investment. This report accompanies the Framework and is intended to provide context, guidance and uses for the Framework as well as outline next steps and raise outstanding questions. 

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Investec Emerging Markets Equity fund removed from the Academy of Funds

We have decided to remove our A rating of the Investec Emerging Markets Equity fund. Since the launch of this fund in 2012, the manager has struggled to meet his performance objective. Whilst some funds may have certain style factors which can lead to them lagging the market at various points in the cycle, one of the attractions of this fund was that it has a process that considers a range of key factors designed to help deliver performance through the cycle. Unfortunately, this has not been the case and our conviction in the approach employed to deliver on the manager’s objective, has waned over time. The emerging markets equity universe is a dynamic and competitive space, with a number of experienced managers and proven investment processes. At present, we feel that there are more attractive strategies on offer.

Franklin UK Mid Cap fund removed from the Academy of Funds

After an extensive and successful career, this fund’s longstanding manager, Paul Spencer, will be retiring in September 2020. In preparation for his departure, he will be handing over the management of the Franklin UK Mid Cap fund to Richard Bullas on 30th June 2020. Mr Bullas is lead manager of the Franklin UK Smaller Companies fund and has worked as part of the Franklin UK Small and Mid Cap team since January 2000.

Following this announcement, we have decided to remove the fund’s A rating, as although we acknowledge Mr Bullas’ experience of running UK small cap strategies, we believe Mr Spencer to be integral to the fund’s rating. Once the changes in manager have had time to settle, we will revisit the fund and the broader team.

We would like to take this opportunity to recognise Mr Spencer’s contribution to the industry and wish him a long and happy retirement from September.

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