Insights

From the monthly archives: May 2020

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

Jake Moeller joins Square Mile

Square Mile Investment Consulting and Research (Square Mile) confirms the appointment of Jake Moeller as Senior Investment Consultant. In this new role, Jake will provide support to Diane Earnshaw, Square Mile’s Head of Consulting, in managing the company’s consulting output, as well as maintaining relationships with a number of investment consulting clients. Jake will also have a focus on research relating to ESG and responsible investing. In addition, he will be a lead media spokesperson.

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AXA Framlington UK Select Opportunities Awarded an A Rating

In response to Chris St John assuming responsibility of this fund at the start of 2019, we adjusted our rating to a Positive Prospect (PP). We made this decision because, although we acknowledged Mr St John's experience and long-term track record running UK mid and small cap equities strategies, we felt that, at that point, his fund management capabilities had not yet been fully tested in terms of running money further up the market cap scale. However, having monitored his progress, and indeed success, over the intervening period, we believe that we are now in a position to upgrade the fund to an A rating within our Academy of Funds.

We hold Mr St John in high regard and look forward to seeing how the fund progresses under his tenure.

Rating removal for Jupiter European Special Situations and JGF Jupiter European Opportunities

Jupiter Asset Management has announced that the manager of the Jupiter European Special Situations and JGF Jupiter European Opportunities funds, Cedric de Fonclare, will be leaving the firm at the end of May 2020. The management of the funds will be transitioned to Mark Nichols and Mark Heslop, who invest in this region with a different investment approach to Mr de Fonclare. We have therefore taken the decision to remove our ratings of both funds given the impending change of management. We wish Mr de Fonclare all the best.

Vanguard SRI Global Stock retains Responsible Recommended rating

Today Vanguard have implemented a number of changes to the Vanguard SRI Global Stock fund, and we have retained our Responsible Recommended rating. Firstly, the fund's name will change to Vanguard ESG Developed World All Cap Equity Index, as will its benchmark, to the FTSE Developed All Cap ex Controversies/Non-Renewable Energy/Vice Products/Weapons index (previously the FTSE Developed index). The fund will now be seeking to fully replicate the new index (previously an optimised approach), which in addition to the existing exclusions, will now also exclude any investment into stocks on issues with regards to Adult Entertainment, Alcohol, Gambling, Weapons and Non-renewable energy (including Fossil Fuels and Nuclear) and companies that breached the UN Global Compact principles. The fund's Ongoing Charge Figure (OCF) has also been reduced from 0.22% per annum to 0.20% per annum. Overall Square Mile has a positive view on the changes, however, we would highlight that the fund will have a higher allocat ...

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Baillie Gifford Global Alpha Growth fund retains AA rating

Baillie Gifford has announced that Charles Plowden, a Joint Senior Partner at the firm and one of three portfolio managers of the Baillie Gifford Global Alpha Growth fund, will be retiring on 30 April 2021. At the partnership level, Mr Plowden will continue as Joint Senior Partner with Andrew Telfer until 30 April 2021 and upon his retirement Malcolm MacColl will become Joint Senior Partner, working alongside Mr Telfer. At the fund level, Mr Plowden will continue to co-manage the Global Alpha Growth fund with fellow managers, Mr MacColl and Spencer Adair over the next year. However, the firm has appointed Helen Xiong, who currently serves as co-manager on the group's American fund, to join the Global Alpha team on 1 June 2020, and to formally assume co-management responsibility alongside Messers MacColl and Adair, upon Mr Plowden's departure. As Mr Plowden currently remains in situ at this juncture, we have decided to retain our AA rating on the Baillie Gifford Global Alpha Growth fund. We will be ...

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An update from Square Mile

In this short video, Square Mile's Managing Director, Richard Romer-Lee, provides an update on the business in these extraordinary and challenging times.

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