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Morningstar's Manager Check Up

REAFFIRMED RATINGS: Morningstar's David Holder explains why analysts positively rate BlackRock World Mining, Invesco UK Growth and Royal London Corporate Bond

David Holder 1 November, 2017 | 11:07AM

 

 

David Holder: Welcome to the Morningstar Manager Check-up for the latest updates from our fund research team.

First up is BlackRock World Mining (BRWM). Evy Hambro has managed this investment trust since September 2000, and has been involved since its inception in 1993 and consequently provides considerable continuity to investors. Over his substantial involvement he has helped build the natural-resources team at BlackRock into a unit that has significant expertise across the entire commodity spectrum.

Together with co-manager Olivia Markham the aim is to add value through a combination of detailed commodity and company analysis. All told, we continue to think this fund is a solid offering and the fund therefore retains its Morningstar Analyst Rating of Silver.

The next fund is Invesco Perpetual UK Growth where the fund's unconstrained and value-orientated approach can result in periods of underperformance; however we continue to have conviction in its ability to outperform over the long term. The fund benefits from the experienced Martin Walker, who has successfully implemented the investment approach since 2003.

Stock selection is dictated by both his macro view and fundamental research, which is framed within a long-term time horizon. We like Walker's disciplined adherence to his investment approach and the fund therefore retains a Morningstar Analyst Rating of Silver.

Finally, to fixed income and the Royal London Corporate Bond fund, which is managed using a collegial team-based approach, led by fixed-income veteran Jonathan Platt, who has managed the fund since inception in March 1999. He has been instrumental in developing the firm's fixed-income expertise and shaping the fund's investment approach and heads a close-knit team of fund managers and analysts.

The investment process starts with a review of the macroeconomic environment to identify the most-attractive credit markets and is followed by in-depth bottom-up credit research. Overall, a time-tested process established and executed by a seasoned manager and backed by an experienced and collegial team drives our positive view on the fund. Below-median fees add to its appeal. We therefore retain its Morningstar Analyst Rating of Silver.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
BlackRock World Mining Trust plc359.00 GBX-0.28
Invesco UK Growth UK Z Acc371.11 GBP0.79
Royal London Corporate Bond M Acc147.10 GBP0.00

About Author

David Holder  is a senior investment research analyst at Morningstar

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