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Shah and Lyttleton lose alpha ratings

Trustnet has removed its alpha manager rating on Fidelity’s Sanjeev Shah and BlackRock’s Mark Lyttleton, dropping them from its list of the top 110 managers.

Shah manages Fidelity’s flagship £3.1bn special situations fund, having taken over from Anthony Bolton in 2008. Lyttleton manages the £600m UK, £1.5bn UK dynamic and £2.1bn UK absolute alpha portfolios.

Qualification for the list takes into account performance in all market conditions. It covers risk-adjusted alpha, consistency of performance versus a benchmark and consistency of a manager’s performance.

A spokesman for Trustnet says: “Sanjeev has a good record over the longer term but his alpha turned negative in November 2009 and remained that way until the end of 2010.

“Lyttleton’s UK and UK dynamic funds are showing negative alpha for one and three years, fourth-quartile performance over both periods.”

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