The FE Crown Fund Ratings have gone through their latest bi-annual rebalancing, with 13 funds picking up the highest score of five FE Crowns in their first ever rating.
Jacob de Tusch-Lec’s £463.1m Artemis Global Income, Terry Smith’s £1.6bn Fundsmith Equity and Marcus Brookes and Robin McDonald’s £84.7m Cazenove Diversity Income funds are among those been awarded five FE Crowns in the rebalancing.
Fundsmith Equity was the top-performing fund out of the 13, achieving a three-year return of 50.5 per cent.
FE research analyst Oliver Clarke-Williams says: “Several IFAs have approached us to ask about a rating for Fundsmith Equity, which they hold in high esteem. At £1.6bn, this fund has a lot of traction. It entered the FE Adviser Fund Index of IFAs’ recommendations at the last rebalancing in August.”
The latest FE Crown Fund Ratings were determined after FE judges looked at funds’ alpha generation, volatility and the consistency with which they have beaten their benchmarks over the three years to 31 December 2013. The top 10 per cent of funds are awarded five FE Crowns.
The rebalancing also saw eights funds get upgraded from two Crowns to five. These include Michiel Timmerman’s Ignis Multi Manager Growth, Martin Walker’s Invesco Perpetual UK Aggressive and Robert Mumby’s Jupiter International Financials funds.
Invesco Perpetual has the most funds with five FE Crowns as 14 products have been awarded the top rating. Following is First State Investments with 11, Cazenove has 10 while Jupiter and Threadneedle each have nine funds with a five FE Crown Rating.
Funds receiving five FE Crowns in their first rating (in order of performance)
|Fund||Manager||Sector||3 yr returns*|
|Fundsmith Equity||Terry Smith||Global||50.50%|
|Artemis Global Income||Jacob de Tusch-Lec||Global Equity Income||44.02%|
|SJP UK & International Income||FE Alpha Managers Adrian Frost & Adrian Godsen||UK Equity Income||41.56%|
|S&W Millbank Blackwall||UK Equity & Bond Income||34.74%|
|S&W Blu-Frog Investment||Global||31.28%|
|Neptune UK Higher Income||
George Boyd-Bowman &
|UK Equity & Bond Income||26.72%|
|Cazenove Diversity Income||Marcus Brookes & Robin McDonald||Mixed Investment 20%-60% Shares||25.19%|
|S&W Smithfield Diversified Bond||Global Bonds||21.69%|
|Threadneedle UK Absolute Alpha||Mark Westwood & Chris Kinder||Targeted Absolute Return||17.58%|
|Kames Inflation Linked||Scott Jamieson||Specialist||16.78%|
|Somerset Emerging Markets Small Cap||FE Alpha Manager Mark Asquith & Edward Robertson||Global Emerging Markets||-2.20%**|
|Neptune Africa||Shelley McKeaveney||Specialist||-3.45%**|
|FP SCDavies Global Alternatives||Paul Denley & Richard Morrisson||Specialist||-3.33%**|