FE Research has awarded buy ratings to 17 funds, including the £3.3bn M&G Global Basics fund.
The 17 buy ratings include six funds being upgraded from hold ratings and 11 new funds being awarded buy ratings for the first time and added to the FE Select 100 shortlist.
The M&G Global Basics fund was initially given a hold rating following the departure of long term manager Graham French who handed lead management over to Randeep Somel in November 2013.
Chelsea Financial Services managing director Darius McDermott says: “The M&G Global Basics recently had a change of manager with Randeep Somel taking over. I still have this fund down as a hold and we want a bit more visibility on it. We do like Randeep, but we were supporters of Graham French as well.”
The six funds upgraded from hold to buy included the £1.4bn Trojan Income fund, the £557m Invesco Perpetual Income & Growth fund and the £213 Invesco Perpetual UK Aggressive fund.
The 11 funds awarded buy ratings for the first time included the £1.1bn Baring Europe Select fund, the £5.5bn Invesco Perpetual Corporate Bond fund and the £435m Fidelity Emerging Markets fund.