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Morningstar brands Edinburgh Partners funds ‘disappointing’

Globe-Global-World-Map-700x450.jpgMorningstar has downgraded two funds from Edinburgh Partners, saying it has concerns about the fund managers’ stock picking abilities after “disappointing” performance.

Muna Abu-Habsa, senior manager research analyst at Morningstar, says that following recent meetings with the managers it has downgraded the Edinburgh Partners Global Opportunities and the Edinburgh Partners European Opportunities funds to neutral.

“While we acknowledge the long experience of fund manager Sandy Nairn and Dale Robertson in global and European equities respectively, our conviction in their ability to add value over the benchmark has waned,” says Abu-Habsa.

“Our overarching concern relates to portfolio construction and the extent to which the fund managers have been able to add value from stock selection as well as some longstanding bets, particularly since performance for both funds has been disappointing in the context of the degree of risk taken.”

The £340m Global Opportunities fund, which was previously bronze rated, is run by Sandy Nairn, chief executive of Edinburgh Partners.

Annualised performance on the fund has been 4.5 per cent over the past two years, compared to the index return of 7.5 per cent. Over five years the fund has returned 5.9 per cent on the index’s 8 per cent.

The £195m European Opportunities fund, run by Dale Robertson, was previously rated silver by Morningstar.

Over two years the fund has made a loss of 1.6 per cent compared to the index’s positive return of 2.6 per cent. Over the longer time, the fund has delivered 4.9 per cent over five years, compared to the index’s 6.2 per cent.


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